18 September 2026
FOR IMMEDIATE RELEASE
Vancouver Liberals Commit to a Bitcoin ATM Ban
Kareem Allam, Vancouver Liberals commit to banning Bitcoin ATMs to prevent the laundering of the proceeds of crime
VANCOUVER, BC - Kareem Allam and the Vancouver Liberals have announced their commitment to banning Bitcoin ATMs that allow users to exchange bitcoin and other cryptocurrency as part of their effort to address criminals money laundering the proceeds of crime.
“Canada’s financial intelligence agency, FINTRAC, has reported cryptocurrency ATMs are commonly used to launder the proceeds of crime,” said Allam. “The Vancouver Liberals recognize the need to ban Bitcoin ATMs as part of dealing with organized crime. It’s not that we should do it, it’s that we must do it.”
Tackling methods of money laundering hits those at the top of the organized crime food chain the hardest. Bitcoin ATMs are used to transfer massive amounts of money in and out of the city with no accountability, no traceability, and a limited ability to recover funds even if a drug trafficker is caught.
A Vancouver Liberal government will ban Bitcoin ATMs to stop this rampant money laundering. Without the ability to get money in and out of the city as easily, Vancouver will become less desirable for traffickers to operate out of.
“Ken Sim has had the chance to deal with Bitcoin ATMs but he chose not to. In 2019, Kennedy Stewart’s City Council voted unanimously for a ban on Bitcoin ATMs at the request of the VPD. After becoming Mayor, Ken Sim didn’t follow through on the ban. Sim claims to support the VPD but he didn’t follow through on their own request. He might be providing the VPD with funding for street-level crime, but by ignoring the higher-ups, the drug trade continues to get worse. He’s throwing money at a problem that he’s allowing to exist,” explained Allam.
Canada’s federal government also knows money laundering through cryptocurrency is a major problem, and is looking at implementing its own Bitcoin ATM ban. The Vancouver Liberal ban will be in place until a federal one complements or supersedes it.
Media Assets:
Video (YouTube): https://youtube.com/shorts/pa2C_vuWqyg
Kareem Allam is available to speak with members of the media.
Media Contact:
Vancouver Liberals Communications
778-877-8406