Popular American ATM operator files for Chapter 11 bankruptcy

The collapse of Bitcoin Depot proves the Bitcoin ATM business model is fundamentally unsustainable. Despite 9,000 kiosks, the company went bankrupt the moment it faced strict KYC rules and fee caps. If compliance and fraud prevention make a business model "unsustainable," was it ever legitimate to begin with? It seems the industry can't survive the transparency required by law. Is this the end for crypto ATMs, or is regulation just killing innovation? What’s your take?
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