Bitcoin Depot Taps Ex-MoneyGram Chief as Regulatory Pressure Mounts

Bitcoin Depot is a major North American operator of Bitcoin ATMs, which let customers convert cash into Bitcoin at retail locations. The company said it had more than 9,000 kiosks globally as of August 2025. The business has come under mounting scrutiny because scammers can steer victims to kiosks and crypto transfers are difficult to reverse, prompting U.S. states to tighten rules on fees, refunds, identity checks and anti-money-laundering controls.

Bitcoin Depot said on March 24, 2026, that it appointed former MoneyGram chief Alex Holmes as CEO and chairman, replacing Scott Buchanan, who took the top job on Jan. 1 and left effective March 23. Holmes led MoneyGram from 2016 to 2024 and said his priorities include operational stability, regulatory progress and diversification. The Connecticut Department of Banking suspended Bitcoin Depot’s money-transmission license on March 9, while the Massachusetts Attorney General sued in February, alleging scams tied to its kiosks cost residents more than $10 million.