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Lawmakers Hear Wide Testimony as New Hampshire Weighs Limits on Crypto ATMs to Curb Scams
Summary
A New Hampshire Commerce Committee hearing on SB 482 drew hours of testimony from law enforcement, advocacy groups and crypto operators about limits, refund holds and fraud; supporters argued protections are needed to stop scams targeting seniors, while industry warned of costs and operational challenges.
Senators and witnesses told the House Commerce and Consumer Affairs Committee that Senate Bill 482, as amended, would impose consumer protections on digital asset kiosks — commonly called crypto or Bitcoin ATMs — to curb a wave of scams that have cost residents thousands of dollars.
Sen. Tim Magoo, the bill's sponsor, said the measure sets a framework of consumer safeguards including a temporary transaction hold for first‑time users, mandatory disclosures and a refund mechanism if a customer reports a fraudulent transaction within a set window. "This safeguard alone would prevent the vast majority of pressure scams," he said.
The bill prompted lengthy testimony. Brandon Grodd, senior assistant attorney general and chief of the consumer protection and antitrust bureau, said the Attorney General's Office supports the bill because kiosks lack built‑in protections and victims are rarely able to recover funds once a…
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