The U.S. Senate has introduced the 2025 Cryptocurrency ATM Fraud Prevention Act (S.710), a bipartisan effort to combat fraud in the crypto ATM sector. The proposed legislation includes daily transaction caps of $2,000 for new users and $10,000 over 14 days, with verbal confirmation required for transactions exceeding $500. Additionally, operators must display fraud warnings and issue receipts containing transaction hashes and timestamps.
The bill mandates registration with the Treasury and the appointment of a chief compliance officer, aligning compliance requirements with traditional financial standards. While the measures aim to enhance consumer protection and potentially boost institutional adoption, critics argue that transaction limits could impede large traders and pose compliance challenges for smaller operators. This initiative is part of a broader regulatory shift in the U.S. cryptocurrency market.
U.S. Senate Introduces 2025 Crypto ATM Fraud Prevention Bill
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