The **North Dakota Senate** has sparked a regulatory showdown with a **45-to-1 vote** 🗳️ passing **House Bill 1447**, tightening crypto ATM rules to **$2,000 daily transaction limits**—reversing the House’s looser proposal. Here’s the breakdown:
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### **🔍 Key Updates: ND’s Crypto ATM Battle**
- **Original Proposal**: House suggested **$2,000/day for first 5 transactions in 30 days** 📅.
- **Senate’s Move**: Slashed it to a **strict $2,000/day cap** 🛑, no exceptions.
- **Next Step**: Bill heads back to the House for approval before hitting the governor’s desk.
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### **🛡️ What’s in the Bill?**
- **Licensing**: Operators must register as **money transmitters** 🏦.
- **Fraud Alerts**: ATMs must display **scam warnings** 🚨 (e.g., “Crypto payments are *irreversible*!”).
- **Big Brother Watch**: Mandates **blockchain analytics** 🔍 to flag shady activity + **quarterly reports** on transactions.
**Rep. Steve Swiontek** (bill sponsor) warns: *“Crypto ATMs are a playground for scammers 🎭—this locks the gates.”*
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### **🌎 National Trend: Crypto ATM Crackdowns**
- **Nebraska**: Just passed a **Controllable Electronic Record Fraud Prevention Act** (March 13) 📜.
- **Federal Push**: Sen. Dick Durbin (IL) introduced a bill after a voter lost **$15K** 💔 to a “pay-or-jail” crypto ATM scam.
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### **📊 Fraud Stats That’ll Shock You**
- **$65M+ lost** in 2024’s first half via crypto ATMs 😱 (per FTC).
- **Seniors at Risk**: Victims aged **60+** are **3x more likely** to get scammed 👵🏼👴🏼.
- **Global ATM Dominance**: 🇺🇸 US leads with **78%** of all Bitcoin ATMs (29,822 machines), 🇨🇦 Canada at 9.2%, 🇦🇺 Australia 4.3%.
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### **💡 Why This Matters**
While critics argue caps could stifle crypto adoption, supporters say it’s a **necessary shield** 🛡️ against rampant fraud. With scams surging **10x since 2020**, states are racing to balance **innovation** and **consumer protection**.
Will North Dakota’s bill set a **national blueprint**? Or will crypto enthusiasts push back? 🤔 Stay tuned!
