{"id":18023,"date":"2025-03-19T09:34:20","date_gmt":"2025-03-19T09:34:20","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18023"},"modified":"2025-03-19T09:34:20","modified_gmt":"2025-03-19T09:34:20","slug":"north-dakota-senate-passes-crypto-atm-bill-with-2000-daily-cap","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18023","title":{"rendered":"North Dakota Senate Passes Crypto ATM Bill With $2,000 Daily Cap"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">The North Dakota Senate has approved a bill introducing new regulations for cryptocurrency ATMs while reinstating a daily transaction cap of $2,000 per user<\/span><span data-preserver-spaces=\"true\">, a provision <\/span><span data-preserver-spaces=\"true\">that<\/span><span data-preserver-spaces=\"true\"> had previously been<\/span><span data-preserver-spaces=\"true\"> removed by the state\u2019s House.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On 18 March 2025, the Senate overwhelmingly <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/ndlegis.gov\/assembly\/69-2025\/regular\/bill-actions\/ba1447.html\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">passed House Bill 1447<\/span><\/a><span data-preserver-spaces=\"true\"> in a 45-1 vote. The vote signals a strong support for tighter controls on crypto ATMs to curb financial fraud. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Originally introduced on 15 January 2025, the bill <\/span><span data-preserver-spaces=\"true\">sets out<\/span><span data-preserver-spaces=\"true\"> to enhance consumer protection by imposing stricter licensing requirements and transaction limits for ATM operators.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/best-ai-crypto-coins\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Best AI Crypto Coins to Invest in 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Key Provisions In The Bill<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Under the latest version of HB 1447, operators of cryptocurrency ATMs and kiosks will be required to obtain a money transmitter license to operate legally within the state. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Additionally, customers will face a $2,000 daily withdrawal limit across all ATMs operated by a provider. The bill also mandates that ATMs display fraud warnings to alert users about potential scams.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Initially, the bill proposed a stricter $1,000 daily transaction limit per customer. However, a House committee later amended the proposal in February, allowing customers to withdraw up to $2,000 <\/span><span data-preserver-spaces=\"true\">per day<\/span><span data-preserver-spaces=\"true\">, but only for their first five transactions within 30 days. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Senate has now removed the 30-day limitation, opting for a flat $2,000 <\/span><span data-preserver-spaces=\"true\">cap per day<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Before it becomes law, the bill must be sent back to the House <\/span><span data-preserver-spaces=\"true\">for approval of<\/span><span data-preserver-spaces=\"true\"> the Senate\u2019s changes. If passed, it will head to Governor Kelly Armstrong, who will decide whether to sign it into law or veto it.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/26a1.png\" alt=\"\u26a1\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\">BREAKING:<\/p>\n<p>NORTH DAKOTA SENATE APPROVES CRYPTO ATM REGULATIONS, REINSTATES $2K DAILY CAP PER USER <a href=\"https:\/\/t.co\/r8KqFGMBJA\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/r8KqFGMBJA<\/a><\/p>\n<p>\u2014 Litest (@LitestApp) <a href=\"https:\/\/twitter.com\/LitestApp\/status\/1902248914750960039?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 19, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Beyond transaction limits, HB 1447 introduces blockchain analytics requirements for crypto ATM operators. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">These provisions mandate that companies monitor transactions for suspicious activity, report fraud to authorities, and submit quarterly reports detailing their ATM locations, customer transactions, and operator details.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The bill\u2019s primary sponsor, Representative Steve Swiontek, emphasized the need for these measures during a legislative hearing on 22 January 2025. He said that the lack of regulation allowed criminals to exploit crypto ATMs.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/analysis\/crypto-forecast-best-crypto\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Growing Regulatory Efforts Across US<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">North Dakota isn\u2019t alone in taking steps to regulate crypto ATMs. On 13 March 2025, Nebraska Governor Jim Pillen signed a similar law, the Controllable Electronic Record Fraud Prevention Act. This also aims to prevent fraud in crypto transactions.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">At the federal level, Senator Dick Durbin of Illinois introduced legislation on 25 February 2025 to regulate crypto ATMs nationwide. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Durbin cited a real-life scam case in which a constituent was tricked into depositing $15,000 into a crypto ATM, believing it would prevent their arrest on fake charges.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to a September 2023 report from the Federal Trade Commission (FTC), fraud involving Bitcoin ATMs has surged nearly tenfold since 2020. Furthermore, losses exceeding $65 million in the first half of 2024 alone has been recorded.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Furthermore, the report found that individuals aged 60 and older were three times more likely to be targeted by scammers through crypto ATMs.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Despite rising concerns over fraud, the US remains the largest market for Bitcoin ATMs. Data from Coin ATM Radar shows that the US accounts for 78% of the global market, with 29,822 <\/span><span data-preserver-spaces=\"true\">machines in operation<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Canada ranks second. It hosts 3,486 crypto ATMs (9.2% of the global market).\u00a0 Meanwhile Australia follows in third place, with 1,613 ATMs, making up 4.3% of the market.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">EXPLORE:\u00a0<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">North Dakota Senate passed a crypto ATM bill, reinstating a $2,000 daily withdrawal cap per user.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">The bill mandates stricter regulations, requiring operators to obtain licenses, monitor transactions, and report fraud.<\/span>    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        <span data-preserver-spaces=\"true\">Crypto ATM fraud is rising, with losses exceeding $65 million in early 2024, prompting regulatory action across the U.S.<\/span>    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/north-dakota-senate-passes-crypto-atm-bill-with-2000-daily-cap\/\">North Dakota Senate Passes Crypto ATM Bill With $2,000 Daily Cap<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The North Dakota Senate has approved a bill introducing new regulations for cryptocurrency ATMs while reinstating a daily transaction cap of $2,000 per user, a provision that had previously been removed by the state\u2019s House. On 18 March 2025, the Senate overwhelmingly passed House Bill 1447 in a 45-1 vote. The vote signals a strong [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18023","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18023","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18023"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18023\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}