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Sterling Heights delays vote on crypto‑kiosk regulations, directs staff to add limits
Summary
Council postponed adoption of an ordinance to license virtual‑currency kiosks and directed staff to revise the draft to include a $2,000 daily limit and $10,000 monthly limit (keeping an initial 14‑day $1,000 cap for new users). AARP Michigan urged stronger protections for older residents during public comment.
Sterling Heights councilors postponed final adoption of an ordinance to license and regulate virtual‑currency kiosks and directed staff to return on Jan. 6 with amended language that includes transaction limits.
Cassie Thierfelder, manager of advocacy for AARP Michigan, urged strong consumer protections for older adults and said high losses are concentrated among people age 60 and older. "We know that Americans of all ages have…
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