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Committee backs crypto-ATM fraud protections with limits and warnings after victims testify
Summary
The Senate committee unanimously recommended House Bill 72, which would impose daily limits and require fraud warnings on crypto-ATM kiosks to slow scams; witnesses included law enforcement, AARP and victims describing substantial losses via crypto ATMs.
The Senate Business and Labor Committee on Feb. 25 unanimously (5-0) favorably recommended House Bill 72, second substitute, which sets consumer-protection measures for crypto ATMs and grants enforcement tools to consumer-protection and law-enforcement agencies.
Representative Wilcox said the measure responds to investigations showing crypto ATMs were used to move funds in frauds and…
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