Is the world ready for a Bitcoin-denominated ATM?

That answer will soon become clear when Las Vegas-based RoboCoinintroduces its ATM-type device that will both buy and sell theBitcoin virtual currency.

According to the company, the device will retail for $20,000. Apre-order promotion that runs through September discounts the priceto $18,500.

The unit is designed as a freestanding kiosk, according to thecompany.

RoboCoin also noted in its product release announcement that thedevice includes compliance features. “Industry-leading securityfeatures a palm vein scanner that can isolate individualtransactors for AML while the webcam can be used to collectidentification and even proof of residency for KYC requirements,”said the company.

Kansas City attorney Braden Perry, a former federal enforcementattorney now with Kennyhertz Perry LLC., said in an email thathe believed there were no legal or regulatory hurdles to deployinga Bitcoin ATM. “As long as they follow theregulatory scheme of a money transmitter per the FinCEN guidance Idon't see why not,” wrote Perry.

No sales to U.S.-based entities are known to have occurred.However, a Canadian company, Bitcoin broker Bitcoiniacs, has placedan order for five of the RoboCoin units, according to pressreports.