On: First Bitcoin ATM

[typicalrunt]

While I'm happy to see the world's first anything happen in my hometown of Vancouver, I do question why Vancouver was chosen over San Fran, Portland or New York. Those cities seem more fit for World's First. Even if its a Canadian market they are targeting, Toronto is our financial centre and would make a better choice for this currency.

[yafujifide → typicalrunt]

Perhaps because San Fran, Portland and New York are in the US, which has more onerous regulations.

[querulous → typicalrunt]

I think it's as simple as their first (operational) customer happens to be based in Vancouver.

[trevorcreech → querulous]

Yup, the ATM is being operated by a Vancouver Bitcoin store called http://www.bitcoiniacs.com

[cbhl → typicalrunt]

"FINTRAC told LibertyBit in an email that it was not considered a Money Service Business, which would require registering with FINTRAC. The agency told LibertyBit that since the transfer of funds is a corollary of its actual service of trading virtual currency, it need not register."

tl;dr: Less regulatory burden in Canada.

(Source: http://www.pcworld.com/article/2039347/canadian-regulator-ta...)