Video thumbnail for youtube video Taiwan says no to Bitcoin ATMs

Taiwan says No to Bitcoin ATMs

Taiwan’s Financial Supervisory Commision says it will not allow the installation of Bitcoin ATMs.  FSC chairman Tseng Ming-chung is quoted by Techcrunch as saying that Bitcoin is not a currency and should not be used for payment.

On Thursday, Techcrunch had reported that Bitcoin ATM supplier Robocoin was planning to target Taiwan and Hong Kong this month.  Of course the use of the term ATM suggests that they can dispense some form of Bitcoin hard cash.  In reality, the Bitcoin stays in a virtual wallet, but you can sell it for hard cash which is then dispensed at the ‘ATM’.



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