North Dakota proposes a bill to impose strict regulations on cryptocurrency ATMs, aiming to limit transaction amounts and require ATMs to display fraud warnings

ChainCatcher news, according to Cointelegraph, the North Dakota state legislature has introduced Bill 1447, which aims to implement strict regulations on cryptocurrency ATMs. Lisa Kruse, the commissioner of the state's Department of Financial Institutions, revealed at a hearing on January 22 that in 2023, a total of 103 residents in the state reported cryptocurrency fraud cases to the FBI, with total losses reaching 6.5 million dollars. According to the bill, the daily withdrawal limit will be capped at 1,000 dollars, with a transaction fee limit of 5 dollars or 3% (whichever is higher), and ATMs will be required to display fraud warnings.