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North Dakota Lawmakers Propose New Limits on Crypto ATMs to Combat Scams
North Dakota Lawmakers Propose New Limits on Crypto ATMs to Combat Scams
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North Dakota lawmakers are considering a new bill, House Bill 1447, which aims to impose stricter regulations on cryptocurrency ATMs to protect residents from financial scams. The proposed legislation would limit daily withdrawals to $1,000, cap fees at $5 per transaction or 3% of the total amount (whichever is higher), and require all crypto ATMs to display fraud warning notices. This move comes in response to increasing concerns over crypto-related fraud, with the North Dakota Department of Financial Institutions reporting 103 crypto scam complaints from residents. The bill is currently under review by the House Industry, Business, and Labor Committee.
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