Bitcoin Depot Implements New Policy that Requires ID Verification for Every Transaction

• Bitcoin Depot has introduced a new compliance protocol for customers.
• Returning users on Bitcoin Depot need to verify their identity for every transaction.
• The new rule aims to tackle fraud and curb the propagation of illicit transactions.

Bitcoin Depot, a leading US BTC ATM (BTM) operator, has stepped up its compliance requirements with a protocol that requires users to provide identification for every transaction at its kiosks. According to its latest announcement, the Bitcoin company stated that the implementation aims to strengthen its safeguards against potential misuse of its technology.

Users Must Provide ID Before Every Transaction

Notably, the latest implementation makes Bitcoin Depot the first major BTM operator to require pre-transaction identification, representing a significant advancement in its compliance protocols. The company noted that the innovation is part of ongoing efforts to prevent the propagation of fraud and illicit activities in the crypto industry.

Bitcoin Depot kick-started the latest policy in February 2026, with ongoing implementation across its kiosk network in the US, boosting the firm’s Know Your Customer (KYC) standards. The BTM company considers the identity requirement an extra layer of protection designed to help prevent account sharing, identity theft, and account takeover attempts on its platform.

Bitcoin Depot CEO Highlights Priorities

According to Scott Buchanan, CEO of Bitcoin Depot, the ATM provider has always prioritized compliance and customer protection. He noted that his firm, through its operations, aims to demonstrate proactive leadership in preventing fraud and building trust with its customers. Buchanan further noted that continuous verification allows his company to detect suspicious activity based on customers, locations, or transaction amount before a transaction is approved.

Bitcoin Depot’s latest deployment builds on its “First-Transaction ID Verification” policy by extending identity checks beyond initial onboarding. It introduces an additional oversight layer for returning users, enabling the BTM to apply a higher standard of transaction monitoring. It also allows the firm to detect suspicious or unauthorized activity in real time.

Bitcoin Depot’s Milestones and Targets

It is worth noting that Bitcoin Depot went public in July 2023 and has since demonstrated the ability to expand domestically and internationally while maintaining focus on compliance, access, and customer experience. The Bitcoin ATM provider allows customers to seamlessly convert cash into Bitcoin and use the cryptocurrency to access cross-border digital financial services.

Related: Missouri Attorney General Probes Bitcoin ATM Firms Over Growing Scam Reports