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Amid Federal Stall, US States Tackle Cryptocurrency ATM Fraud

Four U.S. states adopted legislation that set various limits on transactions at cryptocurrency ATMs, also known as virtual currency kiosks, and establish additional safeguards to curb financial exploitation of the elderly and other fraudulent schemes. On June 23, Rhode Island Gov. Dan McKee signed bills that cap the aggregate value of transactions for new users of cryptocurrency ATMs at $2,000 a day, and for existing users at $5,000. Maine and Colorado set daily limits of $1,000 and $2,000 respectively for new users, while Louisiana set a $3,000 daily limit with a 72-hour waiting period for each transaction. The bills share...

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