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New Crypto ATM Rules: Enhanced Fraud Protection for Citizens

This act introduces new regulations for cryptocurrency ATM operators to better protect citizens from fraud. It means more transparency for users, easier reporting of suspicious transactions, and the possibility of getting refunds in case of fraud.
Key points
Crypto ATM operators must register all their machines and provide their physical addresses, making them easier to identify.
Before each transaction, ATMs will display clear warnings about fraud risks and disclose all fees.
New users wishing to make transactions of $500 or more will need to verbally confirm with customer service to ensure they are not victims of fraud.
Transaction limits are introduced for new customers: up to $2,000 within a 24-hour period and a total of $10,000.
In cases of fraud, new customers can apply for a full refund, and existing customers for a refund of transaction fees, provided they report the incident to law enforcement.
Operators must provide a 24/7 customer service helpline and cooperate with law enforcement to prevent fraudulent activities.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_S_710
Sponsor: Sen. Durbin, Richard J. [D-IL]
Process start date: 2025-02-25
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

Crypto ATM Fraud Prevention Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_710.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-02-25.

What are the main provisions?

Key points include:

  • Crypto ATM operators must register all their machines and provide their physical addresses, making them easier to identify.
  • Before each transaction, ATMs will display clear warnings about fraud risks and disclose all fees.
  • New users wishing to make transactions of $500 or more will need to verbally confirm with customer service to ensure they are not victims of fraud.
  • Transaction limits are introduced for new customers: up to $2,000 within a 24-hour period and a total of $10,000.
  • In cases of fraud, new customers can apply for a full refund, and existing customers for a refund of transaction fees, provided they report the incident to law enforcement.
  • Operators must provide a 24/7 customer service helpline and cooperate with law enforcement to prevent fraudulent activities.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Durbin, Richard J. [D-IL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Courts and Law Economy Security