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Harper Woods introduces ordinance to regulate virtual-currency ATMs; modeled on Grosse Pointe Farms
Summary
Council voted to introduce, for first reading, an ordinance to regulate virtual-currency (cryptocurrency) ATM machines, including mandatory registration with police and transaction limits designed to deter scams. The measure was modeled on an ordinance adopted in Grosse Pointe Farms.
Harper Woods — The City Council introduced an ordinance for a first reading that would regulate virtual-currency automated teller machines (ATMs) within city limits, citing rising scams and fraud affecting residents.
Staff said the draft ordinance would require mandatory registration of virtual-currency ATMs with the police department, impose…
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