Bipartisan bill targets cryptocurrency kiosk scams

Bipartisan bill targets cryptocurrency kiosk scams

The bill would limit customers to daily user deposits at $500 a day to target a common scam that disproportionately affects senior citizens.

Lawmakers Target Crypto ATMs for Scams: New Consumer Protections on the Horizon

Lawmakers Target for Scams: New Consumer Protections on the Horizon Bitcoin kiosks and cryptocurrency ATMs look like regular money machines. You see them in grocery stores, gas stations, and corner shops. But they are not your everyday ATMs. These machines let people buy crypto with cash. Lately, they have become a big worry for regulators and police. Scammers love them because they make it easy to steal money from trusting users. The Growing Th…

Lawmakers tackle cryptocurrency ATMs, propose consumer protections

As mundane as they might seem, these kiosks aren’t you’re typical money machine. Instead, these cryptocurrency ATMs have been increasingly grabbing the attention of regulators and law enforcement across the country, including Kansas. Often stationed in grocery stores, gas stations and convenience stores, the machines are seen as portal for scams for unwitting consumers. Since at least 2021, the FBI has been warning about fraud schemes that used …