Self-Service

Florida seeks to regulate crypto ATMs

Image: iStock

January 24, 2024

Florida lawmakers want to apply existing ATM restrictions to cryptocurrency ATMs to prevent fraud, according to a wmfe.org report.

Senate Bill 662 will provide consumer protections by requiring warnings on the kiosks and other measures. The bill has passed its first committee hearing.

The bill, sponsored by State Sen. Colleen Burton, a Republican, requires kiosk owners to have the ability to trace illicit activity and be able to report it to law enforcement.

New York, California and other states have similar requirements.