Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»Cryptocurrency kiosk regulations become law in Iowa | News
    Cryptocurrency

    Cryptocurrency kiosk regulations become law in Iowa | News

    June 1, 20252 Mins Read


    (Des Moines) — A new rule passed by the Iowa Legislature is intended to protect seniors from fraud at unregulated cryptocurrency kiosks.

    The measure is part of a broader effort to address financial scams often targeting older Iowans. The law requires crypto operators to post written notices warning consumers about the financial risks of using the machines, which resemble an ATM. The measure also limits daily kiosk transactions to $1,000.

    Paige Yontz, state advocacy manager for AARP Iowa, said the fraud numbers in Iowa are high.

    “In 2024 alone, over $20 million of fraudulent activity took place using cryptocurrency kiosks as a method of getting those dollars,” Yontz reported.

    Yontz noted scammers often target seniors in cryptocurrency scams because the technology is still so new.

    The kiosks allow users to use cash or a debit card to buy or send cryptocurrency like Bitcoin in just a few seconds. Yontz pointed out seniors are easy to scam because the technology is still so new and largely unregulated.

    “It’s still kind of the Wild West of currency,” Yontz explained. “This level of protection is going to be really, really important for older Iowans in the sense that they can feel more comfortable.”

    Scammers typically convince their victims they can protect their savings by converting it to Bitcoin but instead the money is actually going into the scammer’s account. The Iowa law is the latest in a series of measures across the country designed to protect consumers from crypto kiosk fraud.

    Thank you for reading kmaland.com

    At KMA, we attempt to be accurate in our reporting. If you see a typo or mistake in a story, please contact us by emailing kmaradio@kmaland.com.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Innovative Chinese dissident uses cryptocurrency to fund his activism

    Cryptocurrency

    When is the next Blue Origin launch? Crypto billionaire joins crew

    Cryptocurrency

    CBUAE publishes comprehensive report on progress made towards issuing the “Digital Dirham”

    Cryptocurrency

    Hackers wipe out Rs 384 crore from Bengaluru cryptocurrency firm Neblio Technologies; company says inside job | Bangalore News

    Cryptocurrency

    Zaggle acquires Rio Money to expand into digital consumer lending

    Cryptocurrency

    PowerBank and Intellistake Announce Strategic Alliance to Pioneer Digital Currencies, including Bitcoin Treasury Integration and RWA Tokenization

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Stock Market

    The Smartest Canadian Stock to Buy With $400 Right Now

    Commodities

    Routine H&S inspection lands metal recycling firm £650,000 fine

    Commodities

    la Malaisie cultive une plante capable d’absorber le métal contenu dans le sol

    Editors Picks

    94-year-old woman retires after 75 years at the same job

    October 30, 2024

    Les prix du gaz européen volatils alors que Trump lève le moratoire sur les nouvelles licences d’exportation Par Investing.com

    January 20, 2025

    Donald Trump lance sa « gold card » pour inciter « les gens riches » à s’installer aux États-Unis

    February 26, 2025

    What Does “To the Moon” Mean in Cryptocurrency?

    February 17, 2025
    What's Hot

    Art Investment Strategies: How to Capitalize on the Buyer’s Art Market

    August 16, 2024

    Dana White responds to Donald Cerrone wanting to come out of retirement: ‘Love him, hate that’

    October 16, 2024

    Gold prices lower – Markets

    February 15, 2025
    Our Picks

    Woman wore wigs and disguises to fraudulently complete UK citizenship tests for others | News UK

    February 25, 2025

    une réponse innovante aux défis climatiques pour l’agriculture de demain

    March 27, 2025

    Great Southern Copper étend la minéralisation de cuivre au projet Chili -Le 04 février 2025 à 11:06

    February 4, 2025
    Weekly Top

    Canada spared from duties as it does not make semi-finished products

    July 31, 2025

    When is the next Blue Origin launch? Crypto billionaire joins crew

    July 31, 2025

    What’s best for your retirement planning?

    July 31, 2025
    Editor's Pick

    Festival de musique de Sully, Festicolor, Gâtinaicticut Metal Fest, Festivox… Nos choix culturels de la semaine dans le Loiret

    June 5, 2025

    Property Perfect affiche une perte nette trimestrielle de 345,6 millions de bahts

    May 15, 2025

    Energous Corp Entered Into At-The-Market Offering Agreement, To Offer Up To $80 Million Of Common Stock – SEC Filing (en anglais seulement) -Le 13 février 2025 à 23:14

    February 13, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.