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Virginia Lawmakers Pass Crypto ATM Reform Bill, Await Governor’s Approval
Virginia Lawmakers Pass Crypto ATM Reform Bill, Await Governor’s Approval
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BTCCSquare news:
Virginia legislators have advanced a bill imposing strict regulations on cryptocurrency ATMs, now awaiting the governor's signature. The legislation mandates licensing, fee caps, transaction limits, and identity verification to curb fraud and protect consumers.
Operators must register with the state and display clear warnings distinguishing crypto ATMs from traditional bank machines. A 48-hour hold period for new users aims to combat scams, following incidents like a $15,000 loss in Southwest Virginia.
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