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Norwood discusses limits, signage or moratorium on cash‑to‑crypto ATMs to curb scams
Summary
Committee members debated measures to reduce losses from scams that use cash‑to‑crypto ATMs, including possible moratoria on new kiosks, required local warnings or daily limits for first‑time users, and outreach to state agencies and AARP for model language.
Norwood’s Law & Safety Committee discussed curbing scams tied to cash‑to‑crypto kiosks — commonly called Bitcoin or virtual‑currency ATMs — and asked staff to research options including a temporary moratorium on new kiosks, mandatory on‑site warnings and outreach to state regulators or consumer groups for model language.
A council presenter said scams often target older residents who are pressured into depositing cash at a kiosk and stressed that modest transaction limits or step‑up warnings could block the largest losses. “I would rather us try something than do nothing,” the presenter said, citing examples from Vermont and…
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