Senate Northern Dakota passes to collect the CRIPTO wheel control

Northern account for Dakota that sets various protective measures at cryptocurrency ATMs, including daily transaction cap and mandatory deception warnings, Senate forwarded.

18. Marta, household bil 1447 cleared the Senate in a Voting from 45 to 1By bringing a step closer to becoming law. The bill, entered in January, is designed to jump fraud and tighten the oversight of the Crypto ATM.

If it was signed on the law, the law would require that ATM operators allow as a transferurer of money and carry out a daily transaction limit over its machines. Also mandates notifications on warning on kioska and quarterly reports on ATM locations, transaction data and operator details.

As before export By Crypto.News, the account originally proposed a daily cap of $ 1,000, but legislators later adjusted the border to $ 2,000 for the first five transactions within 30 days. Now the Senate simplified it on a straight 2,000 caps a day.

In addition, operators must use Blocchain Analytics to flatten suspicious activity and reports of potential fraud to authorities.

The bill has now returned home for approval of these changes before landing on the Governor Kelly Armstrong’s table.

As crippto ATMs become more popular, the draft law aims to introduce a lot of needed protective measures to protect residents from financial losses.

During 22. January, Lisa Kruse, the Commissioner for Financial Institutions North Dakota, noticed that the locals submitted 103 complaints of CRIPTO fraud with the FBI in 2023. years, and reported matches of $ 6.5 million.

Meanwhile, a representative of the Steve Svioondek, who sponsored the account, claimed that the lack of regulations of crippto ATMs easily targets for crypto fraud.

Cripto ATMs are widely available throughout the US, with almost 30,000 machines In the work. However, increasing Cases of fraud They pushed the regulators to introduce new laws aimed at cracking for abuse.

Last week, Governor Nebraska Jim Pillen signed a similar account in the lawDivision of rules for CRIPTO ATM operators. The Law on Controlled Electronic Legal Preventive Treasure, part of the legislative law 609, introduced new demands for licensing and reporting and combating fraud.