CryptoATMs

The North Dakota Senate has taken a major step toward regulating cryptocurrency ATMs, introducing measures aimed at preventing fraud and ensuring better oversight. On March 18, 2025, House Bill 1447 was approved in a 45-to-1 vote, moving it closer to becoming state law.

🔹 Key Features of the Bill
✅ Licensing Requirement: Crypto ATM operators must be licensed as money transmitters.

✅ Daily Transaction Limit: A cap of $2,000 per day to prevent high-value fraud.

✅ Fraud Warnings: ATMs must display mandatory fraud alerts to warn users of potential scams.

✅ Quarterly Reports: Operators must submit detailed reports on machine locations, transaction data, and operator information.

✅ Blockchain Analytics: ATM providers must monitor transactions to flag suspicious activity and report potential fraud cases to authorities.

🏛 Why the Regulation?
The bill was proposed to address rising crypto ATM scams. According to North Dakota’s financial institutions commissioner, Lisa Kruse, residents filed 103 crypto fraud complaints with the FBI in 2023, totaling $6.5 million in losses. Legislators argue that a lack of regulation has made crypto ATMs a prime target for scammers.

House Representative Steve Swiontek, who sponsored the bill, emphasized the need for stronger oversight to protect consumers. The original bill proposed a $1,000 transaction cap, later adjusted to $2,000 for the first five transactions within 30 days before being simplified to a flat $2,000 daily limit.

🚀 Growing Trend of Crypto ATM Regulations
North Dakota is not the only state tightening regulations. Nebraska recently enacted a similar law, requiring crypto ATM operators to meet new licensing and reporting standards under the Controllable Electronic Record Fraud Prevention Act.

Crypto ATMs have grown in popularity across the U.S., with nearly 30,000 machines in operation. However, increasing fraud cases have led regulators to introduce stricter measures to protect consumers.

🔜 What’s Next?
Before becoming law, House Bill 1447 must return to the House for final approval of recent amendments. If passed, it will move to Governor Kelly Armstrong’s desk for final approval.

This bill represents a significant step in balancing crypto accessibility with consumer protection in the evolving regulatory landscape. 🚀🔍

#CryptoRegulation #NorthDakota #Bitcoin #CryptoATMs #AiXBTSecurityBreach

The global network of cryptocurrency ATMs is once again on an upward trajectory, nearing record-breaking levels. This comes after a turbulent period marked by the Terra stablecoin collapse and the FTX fallout in late 2022. The crypto ATM landscape, once heavily impacted, is showing signs of strong recovery and growth.
From Peaks to Troughs: A Timeline
📊 As of December 1, 2022, the number of crypto ATMs worldwide reached an all-time high of 39,958, reflecting the growing adoption of digital currencies. However, the market instability that followed led to a steep decline.
By July 1, 2023, the total number of operational crypto ATMs had dropped to 33,085, marking a loss of 6,873 units over seven months. This decline mirrored the broader challenges faced by the crypto industry during that period.
Current Landscape and Growth Trends
Fast forward to January 11, 2025, and the tide has turned. The global count of crypto ATMs now stands at 38,866, showcasing a robust recovery. Notably, 283 new machines have already been installed in the first few days of this year, highlighting the continued expansion of crypto accessibility worldwide.
Where Are Crypto ATMs Installed?
Crypto ATMs are predominantly found in regions with strong cryptocurrency adoption, including:
North America: Leading the charge, with the United States and Canada hosting the majority of installations.Europe: Countries like the UK, Germany, and Switzerland are key players.Asia: Emerging markets like Hong Kong and Singapore are seeing rapid growth.Latin America: Nations such as Brazil and Mexico are embracing crypto ATMs as a means of financial inclusion.
Conclusion: A Resilient Ecosystem
The resurgence of crypto ATMs underscores the resilience and growing acceptance of digital assets in the global economy. With a renewed momentum and installations picking up pace, crypto ATMs are poised to play an even greater role in fostering mainstream adoption.
As the numbers continue to climb, the question isn’t just where these ATMs are being installed—but how they’re revolutionizing access to cryptocurrencies on a global scale.
#CryptoAdoption #CryptoATMs #BTC #Blockchain