Tennessee Completely Bans Crypto ATMs, Cracks Down on Scam Regulations

robot
Abstract generation in progress

ME News: On April 25 (UTC+8), Tennessee Governor Bill Lee signed a bill that bans the operation of cryptocurrency ATMs statewide, becoming the second state—after Indiana—to implement a comprehensive ban. The bill (HB 2505) has officially taken effect and will be enforced starting July 1. Under the provisions, installing or operating a “virtual currency self-service terminal” (i.e., a Bitcoin ATM) will be treated as a Class A misdemeanor, carrying a maximum penalty of up to one year in prison and a $2,500 fine. At the same time, merchants that allow the installation of such devices will also bear legal responsibility.

Currently, most U.S. states have strengthened oversight through measures such as licensing systems and transaction limits, but outright bans remain rare. Data shows that since 2026, 30 states have proposed related legislation, and 20 states have passed laws, indicating a continued tightening of controls against the risks of cryptocurrency ATM scams. (Source: ODAILY)

BTC0.15%
View Original
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