Stop Crypto ATM Scams Act

This bill would require companies that own or operate cryptocurrency ATMs (called digital asset kiosks) to register with the Treasury Department and report the address of each machine, updating that list at least every 90 days, with the information posted publicly. Operators would have to run anti-money laundering programs, verify customer identities, and report suspicious transactions. New customers could not move more than $2,000 a day or $10,000 total, and other customers could not exceed $7,500 a day. Operators would have to show fee and price disclosures and scam warnings, give receipts, run a live customer service line, and refund fees within 30 days to customers who were fraudulently induced and file a complaint with a police report.

Full text and official record on Congress.gov

Sponsors

• Sean Casten Democrat sponsor
• 2 cosponsors