Crypto ATM Curbs Spread Across US States
JH Kim
Summary
- A report said regulation of crypto ATMs is spreading rapidly across US states.
- Tennessee and Georgia have imposed either an outright ban on crypto ATMs or transaction limits, while Indiana and Minnesota are also pursuing similar rules, the report said.
- The report said tighter regulatory standards and rising anti-fraud costs are disrupting the high-margin business model of crypto ATM operators.
Forecast Trend Report by Period
Regulation of cryptocurrency ATMs is spreading rapidly across US states, Cointelegraph reported.
Tennessee and Georgia have begun enforcing rules that either ban crypto ATMs outright or limit transactions, the crypto-focused media outlet reported on July 1. Indiana, Minnesota and other states are also pursuing similar measures.
State governments are tightening the rules to protect consumers as scams involving crypto transfers surge.
Tougher regulatory standards and rising anti-fraud compliance costs are undermining the high-margin business model of crypto ATM operators, Cointelegraph reported.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.