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»N.D. Bill to Regulate Cryptocurrency Kiosks Clears House
    Cryptocurrency

    N.D. Bill to Regulate Cryptocurrency Kiosks Clears House

    February 19, 20252 Mins Read


    (TNS) — The North Dakota House passed a bill to regulate cryptocurrency kiosks on Monday in an attempt to curb associated fraud.

    House Bill 1447 advanced with a 12-0 recommendation from the House Industry, Business and Labor Committee with two legislators absent/not voting and passed the House 87-3, with four legislators absent/not voting.

    After being amended in committee, the bill would regulate North Dakota virtual currency kiosks, also known as cryptocurrency kiosks or crypto ATMs. Specifically, it would license cryptocurrency kiosk operators in North Dakota, cap the amount of money someone is able to put into the kiosk daily at $2,000 for the first five transactions within a 30-day period of their first transaction, require cryptocurrency kiosk operators to use blockchain analytics software to assist in the detection and prevention of suspicious activity, and require cryptocurrency kiosk operators to clearly post warnings about the danger of scams.


    More than $6 million was stolen through cryptocurrency fraud in North Dakota in 2023 and the FBI received over 5,500 complaints involving crypto kiosks nationally in 2023, according to AARP.

    Supporters say scammers are directing people to withdraw money from their bank accounts and insert the cash into the crypto ATMs where it is deposited directly into the electronic wallets of the scammers. They hope the measures in this bill will help prevent this type of fraud.

    Some lawmakers questioned the necessity of caps on daily transactions and the cap on fees because it unnecessarily burdens a growing industry. They said that there were legitimate reasons for someone to use the kiosks or there would not be successful, publicly traded companies based on them.

    The bill has moved to the Senate, which will vote to determine if the bill makes it to the governor’s desk.

    ©2025 The Bismarck Tribune, Distributed by Tribune Content Agency, LLC.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    RBI e-rupee: How to use central bank digital currency

    Cryptocurrency

    New Cryptocurrency Releases, Listings & Presales Today – League of Traders, LayerEdge, Bitcoin Hyper

    Cryptocurrency

    Cryptocurrency Live News & Updates : Crypto Market Plummets Amid Geopolitical Tensions

    Cryptocurrency

    Next Cryptocurrency to Explode, 22 June — Venom, EOS, Pax Gold, Beldex

    Cryptocurrency

    Better Cryptocurrency to Buy Right Now With $5,000: XRP vs. Ethereum

    Cryptocurrency

    A Brant County resident lost $18,500 in a cryptocurrency scam

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    Blackouts, electricity restrictions may last up to 2 weeks, former energy minister says

    Cryptocurrency

    Earn passive income with cryptocurrency at SIX MINING

    Commodities

    Nvidia a une idée déroutante pour réduire la consommation énergétique des IA

    Editors Picks

    HUD Convenes Summit to Address Rising Property Insurance Costs

    July 18, 2024

    China central bank buys gold for 4th month as prices hit record

    March 7, 2025

    Deutsche Bank and Upvest Announce New Partnership

    August 20, 2024

    Vénissieux. Rhône. Grâce à son « cube de puissance », Mob-Energy double son CA chaque année

    March 10, 2025
    What's Hot

    Fewer Hong Kong seniors buy Silver Bonds in latest US$6.4 billion sale

    October 14, 2024

    France 10 ans Données Historiques sur les Obligations

    February 26, 2025

    Property for sale? One UK country has seen home values rise by nearly 10 per cent

    October 16, 2024
    Our Picks

    Mastercard Partners with Scale to Boost Fintech Deployment in Africa and the Middle East

    August 16, 2024

    L’origine du saut des kangourous éclairée par le kangourou-rat musqué

    March 20, 2025

    Couvy Rock Festival, du punk et du métal!

    May 30, 2025
    Weekly Top

    Entre le Hellfest, « festival où l’on boit le plus de vin », et le muscadet, un lien solide comme du metal

    June 22, 2025

    Next Cryptocurrency to Explode, 22 June — Venom, EOS, Pax Gold, Beldex

    June 22, 2025

    Hellfest 2025 : Savatage, Judas Priest, le vrai metal ne meurt jamais… Notre récit du troisième jour

    June 22, 2025
    Editor's Pick

    Innovations, Challenges, and Market Trends

    August 25, 2024

    New Cryptocurrency Releases, Listings, & Presales Today – Rivalz Network, Sixpack Token, RZUSD

    February 22, 2025

    Clean Energy Is Under Attack Even Where It’s Booming — Commodities Roundup

    May 19, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

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