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- 🎊 ETH Deposit & Trading Carnival Kicks Off!
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North Dakota proposed a bill to impose strict regulation on encryption ATM, aiming to limit transaction amounts and require ATMs to display fraud warnings.
BlockBeats News, on January 23rd, according to Cointelegraph, the legislative body of the state of North Dakota in the United States proposed Bill 1447, intending to impose strict regulations on Cryptocurrency ATMs. Lisa Kruse, the Commissioner of the Financial Institution Department of the state, revealed during the hearing on January 22nd that in 2023, a total of 103 residents of the state reported Cryptocurrency fraud cases to the FBI, with a total loss of 6.5 million US dollars. According to the bill, the daily withdrawal limit will be restricted to within 1,000 US dollars, the maximum transaction fee will be 5 US dollars or 3% per transaction (whichever is higher), and ATM machines are required to display fraud warnings.