Cash-to-crypto refers to the process of converting traditional fiat currency, such as USD or EUR, into digital assets like Bitcoin or Ethereum. This conversion typically occurs through exchanges, brokers, or specialized kiosks. It represents a primary entry point for individuals and institutions into the cryptocurrency market. The ease and accessibility of this conversion significantly influence broader digital asset adoption.
Context
The accessibility and regulatory landscape surrounding cash-to-crypto conversion points are frequent topics in cryptocurrency news, impacting user onboarding and market liquidity. Regulatory efforts often focus on anti-money laundering and know-your-customer compliance for these services. Developments in payment rails and banking partnerships for fiat-to-crypto gateways are significant indicators of market expansion.
State action formalizes kiosk compliance, requiring operators to integrate robust AML/fraud controls and secure a $500K surety bond to mitigate consumer risk.
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