Colorado cuddled up to the marijuana industry in January 2014 – to the irritation of the Federal government – bringing significant economic benefits to the Centennial State. Now Colorado has another reason to thumb its nose at the harbingers of doom in Congress: new Bitcoin ATMs are bringing crypto to the Rockies.
Coinsource, the world’s largest Bitcoin ATM network, today announced that it will install eight machines across the state after receiving “significant demand” from Bitcoin users and local merchants.
CMO of Coinsource, Bobby Sharp, said, “We have had an immense amount of customer inquiries looking to add Coinsource’s BTM to their stores. We have been looking forward to installing BTM machines in Colorado to provide the everyday person a seamless and efficient way to invest in this incredible, emerging market.”
The locations have been specifically chosen not only for foot traffic, but also for demographic – including close to the University of Colorado and Colorado State University.
Although there are over 200 Coinsource machines in the U.S., the significance of bringing the machines to Colorado may lie in its future: Democratic Rep. Jared Polis has made a name for himself as a major advocate for the potential of blockchain technology and cryptocurrencies, saying that “To keep up with modern technology, we need to remove outdated restrictions on cryptocurrencies, like Bitcoin, and other methods of digital payment”.
Polis is one of the most successful members of the U.S. House, having built a $400M online fortune.
And as a candidate for Governor in 2018, his support for cryptocurrency may yet foreshadow even greater crypto freedom in the state: “By cutting red tape and eliminating onerous reporting requirements, it [the Cryptocurrency Fairness Act, co-sponsored by Polis] will allow cryptocurrencies to further benefit consumers and help create good jobs.”
Following Wyoming’s move to overrule Federal securities law at the state level, cryptocurrencies could be the next big clash in the states’ rights movement, after Attorney General Jeff Sessions’ efforts to clamp down on marijuana continue to appear to be low on the list of current administration priorities.
The new Bitcoin ATMs are not currently dispensing anything else. Or other cryptos. Not even PotCoin.