Bangladesh, Aug. 6 -- In a significant move reflecting growing concern over the misuse of cryptocurrency infrastructure, the US Treasury Department issued a strong warning on August 4, urging financial institutions to monitor and report suspicious transactions involving crypto ATMs – also known as Convertible Virtual Currency (CVC) kiosks. These machines, which function similarly to traditional bank ATMs, enable users to convert physical cash into digital currencies and vice versa. While marketed as a convenient bridge to the digital economy, regulators and law enforcement agencies are increasingly alarmed by their exploitation in criminal enterprises, from drug trafficking to elaborate financial scams.

The Financial Crimes Enforce...