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News

North Dakota Senate Passes Bill Regulating Crypto ATMs

2 mins mins
Key Points:

  • North Dakota Senate passes HB 1447 with a majority vote.
  • The bill includes stringent regulations for crypto ATMs.
  • Increased scrutiny on crypto transactions to prevent fraud.

north-dakota-intensifies-crypto-atm-regulations
North Dakota Intensifies Crypto ATM Regulations

The North Dakota Senate recently approved HB 1447 with a 45-1 vote, intensifying regulations on crypto ATMs statewide.

This regulatory move seeks to combat fraud, potentially influencing other states to adopt similar measures.

North Dakota Enforces New Limits on Crypto ATMs

HB 1447’s approval by North Dakota Senate imposes stringent controls over crypto ATMs, including a $2,000 daily cash withdrawal limit. The bill mandates operators to acquire a state currency transmission license and use blockchain analysis tools for monitoring suspicious activities. Operators must also provide quarterly reports detailing terminal locations, transaction data, and fraud warnings.

The legislation underscores North Dakota’s response to the growing concerns over crypto ATM-related fraud. The bill aims to move the industry towards more compliant operations, departing from its rapid, often unchecked growth. This landmark decision awaits review and revisions in the House of Representatives.

Community and industry reactions have been varied, with AARP North Dakota openly supporting the bill. Janelle Moos, Associate State Director of Advocacy, AARP North Dakota, stated, “HB 1447 will create important consumer protections to save older North Dakotans from having their hard-earned money, sometimes their life savings, stolen by criminals misusing crypto kiosks or ‘ATMs’ for fraudulent activity.” Other states might observe how this legal shift influences the regulatory landscape.

Regulatory Trends Shaping the Crypto Landscape

Did you know? The passing of similar legislation in Nebraska earlier this month reflects a growing trend among states to regulate the cryptocurrency market more strictly.

Bitcoin is currently trading at $68,245, experiencing a fluctuation between $68,000 and $68,500. Analysts suggest that this trend aligns with previous market movements, reinforcing historical price patterns. Ethereum follows a similar trend trading at $3,890 with a slight decrease.

Experts foresee potential regulatory outcomes influencing national crypto policies. Increased scrutiny may lead to greater compliance burdens on operators, reshaping the operational landscape. As the industry adapts, similar initiatives could emerge across other legislative bodies, prompting a wave of policy adjustments.

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Avatar of Mayowa Adebajo

Mayowa Adebajo

19 March 2025, 12:59:25 GMT +0000

Mayowa is a seasoned freelance writer specializing in creating compelling, high-converting content across diverse industries.

With extensive experience working with major news outlets, personal blogs, and private clients, he brings a deep understanding of audience engagement and storytelling. His expertise spans SEO optimization, persuasive copywriting, and niche versatility, ensuring content that resonates and delivers results.

Armed with a strong command of the English language and a keen eye for detail, he crafts content that is both impactful and strategically tailored to meet client goals.

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