BISMARCK — AARP is calling on North Dakota Gov. Kelly Armstrong to sign a bill that would regulate cryptocurrency kiosks amid growing concerns over fraud.
The FBI reports Americans lost more than $5.6 billion to cryptocurrency-related scams in 2023, including approximately $6 million in North Dakota.
House Bill 1447 would create consumer protections such as licensing for kiosk operators, fraud warnings displayed on machines and mandatory printed receipts detailing transaction information.
“These machines look like ATMs, and so people are inserting their money, thinking it’s secure,” said Janelle Moos, advocacy director for AARP North Dakota. “It gets transferred to a scammer’s digital wallet and the money’s gone. There’s no way to track it, and criminals are using this as a tool to scam folks out of money.”
AARP says the bill would offer vital safeguards and help protect older North Dakotans and other vulnerable consumers from falling victim to crypto-related scams.