Lawmakers in New Jersey propose safeguards for users of crypto kiosks
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April 14, 2025
New Jersey lawmakers have introduced a bill to protect users of cryptocurrency kiosks, also known as crypto ATMs, amid growing concerns about fraud and consumer risks, according to a Shore News Network report. The “Virtual Currency Kiosk Consumer Protection Act” aims to regulate the increasing number of these ATMs across the state.
The proposed legislation mandates strict disclosure, safety, and fraud prevention rules for kiosk operators. Key provisions include requiring operators to obtain a state money transmitter license, submit quarterly location reports, and implement clear warnings about common scams. The bill also compels operators to provide live customer service during business hours and use blockchain analytics software to detect fraudulent transactions.
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