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Committee adopts consumer safeguards for crypto kiosks, limits some transactions and imposes hold period
Summary
House Bill 483, authored by Rep. Wright, would require warning signage, transaction limits and a hold period on some purchases at virtual‑currency kiosks; committee adopted technical amendments and voted the bill out as amended to provide new protections targeted to fraud victims, especially older adults.
Representative Blake Wright said the bill responds to a surge in scams that use cryptocurrency kiosks (commonly called crypto or Bitcoin ATMs) to move cash rapidly out of victims' reach. "We've gotten contacted by a number of sheriffs around the state who had scams going on in their parishes where elderly folks . . . were being scammed by asking, saying that they were being called by a sheriff or the court and needed to go put money into these kiosks," Deputy Attorney General Larry Freeman told the committee.
The bill, as amended,…
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