Bitcoin Depot picks ex-MoneyGram boss as CEO as state actions mount

Former MoneyGram veteran Alex Holmes is now leading Bitcoin Depot, as crypto ATM operators face mounting legal scrutiny in multiple US states.

Bitcoin Depot has named the former CEO of payments giant MoneyGram as its new boss amid mounting regulatory pressure from US states over crypto ATM’s use in scams and money laundering. 

The company said on Tuesday that Scott Buchanan had immediately stepped down as CEO, a role he served in for less than three months after starting on Jan. 1. It added in a regulatory filing that his resignation “was not due [to] a disagreement.”

Bitcoin Depot appointed Alex Holmes, who was already a board member, as CEO and chair. He has held various executive roles, including finance chief and CEO, over a 16-year period at MoneyGram, where he focused on regulatory compliance.

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