It's the familiar script again: scammers take the fall, technology pays the price. Crypto ATMs definitely need regulation, but banning them outright is the same old trick as banning P2P platforms back in the day, and in the end, honest users are the ones who get hurt.

View Original
CoinNetwork
Crypto界网消息,Legislators in Delaware and New Jersey have advanced bills aiming to ban crypto ATMs in response to rising scam complaints related to these machines. The Delaware House Economic Committee passed Bill 441 on June 9th, prohibiting the possession, installation, and operation of cryptocurrency vending machines in the state. The bill requires existing machines to be taken offline and dismantled within 90 days of the law taking effect, and also bans crypto sales at retail points or with cashier assistance. The New Jersey Senate Commerce Committee approved Bill 2141 on June 8th, prohibiting businesses from owning or managing crypto ATMs in the state. Both bills are related to scams, and violators of the Delaware bill could face fines of up to $10k.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned