North Dakota Bill Limits Crypto ATM Transactions to Combat Fraud
17 hours ago · Lawmakers in North Dakota state have introduced a bill to restrict crypto ATM transactions and protect residents from fraud. The House Bill 1447 was submitted on January 15 to the state legislature, after 103 state residents reported $6.5 million in losses to crypto scams in 2023. The bill is primarily sponsored by Representative Steve Swiontek and aims to create key …
Bill in North Dakota aims to restrict crypto ATM use to fight …
12 hours ago · North Dakota’s Department of Financial Institutions Commissioner, Lisa Kruse, estimated that roughly $6.5 million was lost across 103 reported incidents, which often involve the use of crypto ATMs.
North Dakota Lawmakers Propose Bill to Implement New …
14 hours ago · U.S. state of North Dakota considers capping crypto ATM transactions to combat fraud. Lawmakers in the U.S. state of North Dakota are discussing a recently introduced bill that seeks to cap crypto ATM transactions in a bid to crack down on fraud, Cointelegraph reported. The… — CoinNess Global (@CoinnessGL) January 23, 2025
North Dakota bill seeks to cap crypto ATM transactions
23 hours ago · North Dakota’s lawmakers have introduced a bill aimed to combat crypto ATM transactions after 103 state residents reported $6.5 million in losses to crypto scams in 2023.
North Dakota lawmakers propose new limits on crypto ATMs to …
21 hours ago · Lawmakers push for stricter crypto ATM measures to combat rising fraud. During an address to the House Industry, Business, and Labor Committee on January 22, the North Dakota Department of Financial Institutions commissioner, Lisa Kruse, noted that the state’s residents filed 103 crypto scam complaints to the FBI for $6.5 million in losses in ...
North Dakota Lawmakers Propose Bill To Cap Crypto ATM
1 day ago · North Dakota’s proposed House Bill 1447 aims to combat crypto ATM scams by capping daily withdrawals at $1,000. In 2023, North Dakota residents reported losses of $6.5 million from crypto scams. Crypto industry representatives argue whether the proposed fee and transaction limits could hinder ATM operators due to operational costs.
North Dakota bill takes aim at crypto fraud with new consumer ...
2 days ago · A bill debated Wednesday by North Dakota lawmakers aims to protect residents from cryptocurrency scams. House Bill 1447 would add new requirements for crypto kiosks – or ATMs for digital currency – such as daily withdrawal limits, fraud warning notices and a cap on fees.. Supporters say the proposal aims to counter a rise in scams involving cryptocurrency.
North Dakota bill takes aim at crypto fraud with new consumer ...
11 hours ago · The FBI reported $5.6 billion in crypto fraud losses in 2023, according to testimony submitted by Lisa Kruse, commissioner of the North Dakota Department of Financial Institutions.
New Legislation will Protect Older North Dakotans from Criminals …
In North Dakota, more than $6 million was stolen through cryptocurrency fraud in 2023. Pass Legislation to Deter Criminals From Using Crypto ATMs to Steal from Older North Dakotans AARP supports legislation that will deter criminals from using crypto ATMs for fraudulent activity and establish important consumer protections.
North Dakota Bill Seeks to Cap Crypto ATM Transactions to …
1 day ago · Key Takeaways: Transaction Limits: The bill seeks to impose caps on crypto ATM transactions to reduce opportunities for scammers to exploit these machines for fraudulent activities.. Rising Scams: The initiative responds to 103 residents losing $6.5 million to crypto-related scams in 2023, highlighting the urgency to protect consumers.. Enhanced Oversight: …
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