Crypto Dispensers, a Bitcoin ATM operator based in Chicago, is exploring a potential sale worth up to $100 million. This move comes as regulators tighten their watch and legislation on crypto kiosks across the country.
Crypto Dispensers Starts Review for Possible Sale
On November 21, Crypto Dispensers revealed that it has hired advisors to begin a strategic review. This process will evaluate buyer interest and determine whether selling the company is the best path forward.
The company said it shifted in 2020 from running physical Bitcoin ATMs to offering software services instead. This pivot, it noted, was meant to reduce fraud, simplify compliance, and ease the pressure of increasing regulatory demands.
CEO, Firas Isa, suggested that the company sees greater long-term potential in its technology offerings. Despite the review, Crypto Dispensers stated that it may continue operating independently. The company stressed that there is no guarantee a sale will happen.
DOJ Indictment Hits Crypto Dispensers
The announcement of the possible sale came shortly after the U.S. Department of Justice unsealed an indictment. It accuses Isa and the company of running a $10 million money-laundering scheme.
Prosecutors claimed that between 2018 and 2025, Isa accepted funds from wire fraud and drug trafficking through the company’s ATM network. Even though Bitcoin ATMs require identity checks, the DOJ said he converted the money into crypto. Authorities also alleged he sent it to crypto wallets made to hide where the funds really came from.
Both Isa and Crypto Dispensers have pleaded not guilty to the conspiracy charge. The count carries a maximum sentence of 20 years. If Isa is convicted, the government could seize any assets linked to the alleged activity.
Growing Scrutiny on Crypto ATMs Nationwide
Crypto ATMs have been attracting the attention of federal agencies and lawmakers for years. Concerns about fraud, anonymity, and ease of use for criminal schemes have continued to rise.
According to the FBI, nearly 11,000 scam complaints in 2024 involved crypto kiosks, with losses totaling more than $246 million. These numbers have pushed cities and states to take action.
Local governments are now cracking down on crypto ATMs to protect residents from scams. Some U.S. cities are taking strong action against crypto ATMs because many people have been tricked into losing money.
In Stillwater, Minnesota, the city decided to ban all crypto kiosks after several residents were scammed. Spokane, Washington, made the same choice in June, saying these machines are often used by scammers.
Grosse Pointe Farms, Michigan, took a different approach. The city did not ban the machines completely, but set strict limits just in case any are installed in the future.
These moves reflect a larger shift as regulators and local officials try to slow the rising tide of fraud tied to crypto kiosks.