Crypto ATMs Face Uncertain Future in US Amid Regulatory Crackdown

Описание: The days of crypto ATMs in America might be numbered. A proposed bill, the Crypto ATM Fraud Prevention Act, aims to curb fraud in the sector by introducing stricter regulations. If passed, the bill would require crypto ATM operators to warn users about potential scams, enhance fraud prevention measures, and provide law enforcement with tools to track suspicious transactions
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The bill's introduction has already led to the shutdown of over 1,200 crypto ATMs in the US, with operators citing regulatory concerns. The move is part of a broader effort to protect consumers, particularly older adults, who are more likely to fall victim to crypto ATM scams.
Key Provisions of the Bill:
Daily Transaction Limits: New users would face a $2,000 spending limit over 24 hours, while transactions above $10,000 would require a two-week waiting period.
Refund Requirements: Operators would need to refund transactions if users report scams to police within 30 days.
Enhanced Verification: Operators would need to verify user identities and monitor transactions for suspicious activity.
States like California, Illinois, and North Dakota have already implemented their own regulations, including daily transaction limits and licensing requirements for crypto ATM operators
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The regulatory crackdown has sparked debate, with some arguing it will protect consumers, while others claim it will stifle innovation.

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