In members of the US Senate Banking Committee who are expected to vote in law to meet the digital asset structure at the end of the month, one of the proponents of the bill has suggested that the version of the Chamber could meet fraud by cryptocurrency ATMs.
On a Monday x post, Wyoming Senator Cynthia Lummis Says One of the issues that he and the New York Senator Kirsten Gillibrand “Hope to discuss in market structure” are the opportunities of fraud involving bitcoin (Btc) ATMs.
He noted a report in which the Cheyenne Police Department “identified 50 opportunities of fraud” mostly affecting seniors through crypto ATMs, covering “over $ 645,000.”
So far, the federal government has not passed a law to specifically meet fraud from crypto ATMs and kiosks. The US Federal Bureau of Investigation reported It received nearly 11,000 complaints of fraud cases in crypto kios in 2024, resulting in more than $ 246 million in losses.
Lummis’s statement came as a Senate banking committee – where he was a majority member of the majority – expected to vote on a bill to promote clear policies for the regulation of digital assets and cryptocurrency companies in the US. The Wyoming Senator said he hoped the bill would be signed in 2026.
Passed by the US House of Representative mention ATMs, with a possible exception to the exchanges of “automatic systems in accordance with industry standards.”
The latest Senate Draft Bill, released by Republican Leadership in September, is not the same as the crypto or ATM kios.
Related: Crypto ATM Limitations and Sweep forbid us: Here’s why
Many in the cryptocurrency industry have been watching Congress for updates on market structure since the Chamber passed the Clarity Act in July. Last week, members of Congress identified with some executive executives To discuss the upcoming law, including a market structure bill and a bill that allows the US government to hold up to 1 million BTC in a national crypto reserve.
Lummis’ statements have signed that the version of the Senate market structure can still be liquid until Monday. House Republicans already vote to retroactively add A Central Bank Digital Currency (CBDC) prohibits The Clarity Act, but it is unclear what the final text of the Senate bill at the time of publication.
Cointelegraph reached Lummis’ office to comment, but did not receive a response at the time of publication.
Not the first federal law that suggests responding to crypto atm fraud
In February, Illinois senator Dick Durbin Introduced the Crypto ATM Fraud Prevention Act To meet what he called “a worrying course of crypto ATM fraud in the US. The bill proposed that ATM operators require” to warn consumers about scams and take reasonable measures to prevent fraud in their machines. “
The bill was defined to the Senate Banking Committee and did not advance for a floor vote.
https://www.youtube.com/watch?v=1ljpQXTUPNC
US and city states will also enter here
Without a comprehensive federal law to meet the fraud at the Crypto ATM, many United States and local governments have passed their own laws.
Cities such as Stillwater, Minnesota and Spokane, Washington, banned imposed a $ 1,000 -day -day transaction limit In crypto kiosks – the area has no crypto ATMs when the rule is passed.
In August, 13 United States state governments passed laws that restrict crypto ATM activities, from sunny transaction limits, refunds in case someone is disappointed, and the warnings that we have shown in the kios themselves. Other provisions include registration with state authorities.
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