Senator Durbin Introduces New Bill to Combat Crypto ATM Fraud

Feb 26, 2025 04:00 am Cryptocurrency 335

Key Takeaways:

Sen. Dick Durbin introduced the Crypto ATM Fraud Prevention Act to prevent increased scams at ATMs for cryptocurrencies.

The bill includes transaction caps and mandatory rebates, especially for first-time users and victims of scams and fraud.

This legislation seeks to protect vulnerable populations in our society, particularly older adults, from losing their livelihoods to fraudulent individuals.

US Senator Dick Durbin Proposes Legislation to Combat Crypto ATM Fraud

The Senate introduced the Crypto ATM Fraud Prevention Act in response to the alarming rise in fraud via Crypto ATMs. Illinois Senator Dick Durbin recently proposed this legislation to combat rising fraud cases involving cryptocurrency ATMs. This law aims to provide “common sense guardrails” to help prevent people, especially t ..

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