Indiana lawmakers push new rules on crypto ATMs amid scam surge
Indiana lawmakers want to create additional regulations to protect against scammers using cryptocurrency ATMs, or “crypto kiosks.” Law enforcement and others warn there are increased instances of fraud linked to the machines.
House Bill 1116 would place transaction limits, fee caps and require more signage warning against fraud around the kiosks, which enable customers to buy bitcoin by using cash or debit cards.
The kiosks have gained popularity across the country and are often found in gas stations or convenience stores and typically do not require a bank account to purchase bitcoin.
Bill author Rep. Wendy McNamara (R-Evansville) said that the bill isn’t intended to limit anyone’s ability to own cryptocurrency but…
