Hamish Fletcher

Business reporter for the NZ Herald

NZ Bitcoin ATM shut down

The ATM was launched last month, but has now shut down. Photo / Bitcoin Central
The ATM was launched last month, but has now shut down. Photo / Bitcoin Central

An Auckland Bitcoin ATM has been shut down by its owner after claims the service could not get support from banks.

Bitcoin Central operated a two-way Bitcoin ATM on Auckland's Karangahape Road, allowing users to buy and sell the digital currency for cash.

The ATM was launched last month but a message on Bitcoin Central's website says the machine has now shut down:

"Unfortunately, despite complying with all the legal requirements we have been unable to secure banking facilities. Without these the Bitcoin ATM business cannot operate long term. The negativity from the banking sector to Bitcoin also threatens the ATM owner's other businesses. For me it is prudent to shut the ATM down."

Bitcoin Central's Mike Steeneveld could not be contacted this afternoon.

The Herald understands others in the New Zealand Bitcoin community have also run into difficulties with banks.

A source told the Herald today that one local Bitcoin startup had their bank account closed.

- NZ Herald

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