North Dakota lawmakers have introduced a new bill aimed at improving the protection of crypto ATM users. The offer includes a transaction limit of up to $1,000 per day, a commission limit of up to $5 or 3% of the amount, and mandatory display of fraud warnings on device screens.

The reason for the bill was fraud data: in 2023, more than 100 residents of the state reported losses of $6.5 million due to crypto schemes. The representative of the legislative assembly, Steve Sviontek, said that the lack of protection on crypto-ATM makes them vulnerable to criminals.

Supporters of the law believe that the measures will help protect the elderly, who are most often victims of fraud. However, some crypto ATM operators, such as CoinFlip, while supporting user protection, have expressed disagreement with the restrictions on fees and transaction limits.

If the bill is passed, it will be a step towards creating a more secure ecosystem for the use of cryptocurrencies in North Dakota.