KYC process is something that a lot of countries with Bitcoin ATMs require for their users some do it not directly with the ATM itself but from a crypto wallet associated to them, if you don't have it now then expect that you will forcibly have one when the Vietnamese government starts to get more involve with the industry.
That's probably true, though if the government doesn't require it now there's no reason why the bitcoin ATM operator should ask for that information. Don't do it until it's required, that's my take on it.This is a great idea, and if I had a spare $5000 laying around I'd probably invest in the project. I have kind of become a fan of bitcoin ATMs after discovering that there was one in my town (who knew!), even though it was malfunctioning when I tried to use it. They offer an excellent way of buying bitcoin, even if the fees are generally high.
The only issue I see with this succeeding in Vietnam is the problem of merchants accepting bitcoin. Tourists were mentioned in the infographic, but bitcoin won't do them much good if they can't spend it, right? And is it hard to convert foreign currency to whatever the local Vienamese one is? I don't remember the name of it, my bad. Tourists generally don't have a problem converting their money when they arrive in the country I would imagine. But all that aside, good luck with this.
Thank you for your comments. To add, as outlined in our previous messages, we have participated in and are open to further discussions with the legislative bodies. Currently we are complying with the legislative framework. Should it change, we are prepared to adapt our business in order to continue operating in line with the law. Our business model does not rely on BTMs being KYC-less.
One of the main, if not the main, use case for cryptocurrencies continues to be trading and international value transfer. This use case has already created a market large enough that it does not need merchants to accept bitcoin. Vietnam is placed #8 globally by the number of cryptocurrency traders and speculators even though paying for goods and services with cryptocurrencies has been illegal locally (trading cryptocurrencies is not prohibited though). Hence merchants accepting bitcoin would be strictly an upside scenario, on which we are not currently relying in our business model.
Regarding the comment on the tourists, it's more about convenience, security, and cost. Although tourists are free to exchange cash for the local currency, in practice it's highly cumbersome, given 1) limited acceptance and high cost of using a foreign credit card in Vietnam (so people prefer to rely on cash), 2) the need to withdraw home currency cash from the bank account, which often requires a visit to the branch, 3) need to pre-convert home currency to USD and bring the USD to Vietnam (creating a risk of theft as well of a hassle to declare it if bringing larger sums of money), 4) converting USD to Vietnam Dong at a high cost often (due to lack of transparency in this business dominated by jewellery stores), 5) having to do the inverse process for any left-over USD. Compare that to doing nothing in the home country, then once in Vietnam, just sending BTC from your wallet to BTM's wallet and withdrawing the cash directly.
- Mid September this year in Hanoi; so almost 2 months ago. 
