What’s News In This Story?
-The Chevron on 103rd St right next to I-95 in Miami-Dade County might look like just an ordinary gas station. But it hides a secret. Next to the sodas and the junk food you can also buy Bitcoin.
-Owned by hard-nosed entrepreneur Rishi Gosine, the station on 103rd St and his Chevron on 79th St and North Miami Avenue were the first to feature Bitcoin ATM’s in South Florida.
-Now there are dozens of them in the region and over a hundred in the rest of the US.
-Gosine says that the ATM’s are popular with customers- especially young people who lack access to a bank or credit card.
-But the ATM’s have caused concern in other countries. In London, local authorities say that they are used to help drug dealers launder money.
-Miami has become a global cryptocurrency capital in recent years. The city hosted over 5,000 people in January for the North American Bitcoin Conference.
-According to the Miami New Times, Bitcoin entrepreneurs and speculators are drawn to Florida because of lax state oversight of the industry.