{"id":26018,"date":"2025-08-12T12:56:42","date_gmt":"2025-08-12T09:56:42","guid":{"rendered":"https:\/\/forklog.com\/en\/wisconsin-to-impose-restrictions-on-crypto-atms\/"},"modified":"2025-08-12T12:56:42","modified_gmt":"2025-08-12T09:56:42","slug":"wisconsin-to-impose-restrictions-on-crypto-atms","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/wisconsin-to-impose-restrictions-on-crypto-atms\/","title":{"rendered":"Wisconsin to Impose Restrictions on Crypto ATMs"},"content":{"rendered":"

Wisconsin lawmakers have introduced<\/a> two bills aimed at regulating crypto ATMs, prompted by a sharp rise in fraud across the United States.<\/p>\n

The proposed measures would require crypto ATM operators to obtain a money transmitter license. They would also impose a transaction limit of $1,000 per day for individual customers. Fees would be capped at $5 or 3% of the transaction amount.<\/p>\n

Before conducting their first transaction, users would need to undergo verification by providing their name, date of birth, address, phone number, and uploading a photo ID. Terminals would display fraud warnings. The bills also propose a mechanism for refunding victims if they report the crime within 30 days.<\/p>\n

Both bills have been referred to relevant committees for consideration. If passed, the new requirements would take effect in 60 days.<\/p>\n

According to FinCEN<\/span>, complaints about crypto ATM fraud increased by 99%<\/a> in 2024. Losses suffered by victims rose by 31%, reaching nearly $247 million. As per Coin ATM Radar<\/a>, Wisconsin hosts 582 such devices, while the U.S. has 30,964.<\/p>\n

At the time of writing, the global number of crypto ATMs reached 39,369.<\/p>\n

\"Wisconsin
Source: Coin ATM Radar<\/a>.<\/figcaption><\/figure>\n

Arjun Vijay, founder of the crypto exchange Giottus, noted<\/a> that the lack of robust KYC<\/span> procedures makes cryptocurrency ATMs vulnerable to money laundering. Dilip Kumar, director of Digital South Trust, believes regulation will enhance trust in digital currencies, albeit at the cost of reduced anonymity.<\/p>\n

Back in July, New Zealand’s Deputy Minister of Justice, Nicole McKee, announced<\/a> plans to completely ban crypto ATMs in the country to combat money laundering.<\/p>\n","protected":false},"excerpt":{"rendered":"

Wisconsin lawmakers have introduced two bills aimed at regulating crypto ATMs, prompted by a sharp rise in fraud across the United States. The proposed measures would require crypto ATM operators to obtain a money transmitter license. They would also impose a transaction limit of $1,000 per day for individual customers. Fees would be capped at […]<\/p>\n","protected":false},"author":1,"featured_media":26017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1189,36,26],"class_list":["post-26018","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptomats","tag-regulation","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26018","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=26018"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/26018\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26017"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=26018"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=26018"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=26018"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}