Rep. Casten and Rep. Salazar Introduce Bipartisan Bill to Crack Down on Crypto ATM Scams
This bill is currently in the early stages of the legislative process and is being reviewed by the House Committee on Financial Services. It is actively moving forward as it waits for the committee to decide on the next steps. There are no upcoming votes scheduled at this time.
The bill has bipartisan support and addresses a clear public harm, but crypto legislation often faces delays in the Financial Services Committee.
Small businesses that operate crypto ATMs would face major new compliance costs. They would need to register every machine location with the Treasury, develop and maintain anti-money laundering programs, use blockchain analytics tools, staff a live customer service phone line during extended hours, and process refund claims from fraud victims. These requirements could push smaller operators out of the market or force them to significantly raise fees to cover costs.
“A digital asset kiosk operator shall provide live customer service during extended business hours and display the phone number for such service in a clear, conspicuous, and easily readable manner upon each digital asset kiosk.”
Referred to the House Committee on Financial Services.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
Lawmakers introduced the bipartisan Stop Crypto ATM Scams Act to curb fraud after FBI data showed $333 million in losses. The bill mandates transaction limits of $2,000 for new users and $7,500 for regular customers, alongside mandatory scam warnings and fee transparency.
Representatives Maria Elvira Salazar and Sean Casten introduced legislation to establish federal standards for crypto ATMs. The act requires operators to register with the Treasury, provide a public list of kiosk locations, and implement daily transaction caps to protect vulnerable consumers.
This bipartisan bill targets the $333 million lost to crypto kiosk fraud in 2025. It requires operators to implement anti-money laundering programs, verify customer IDs, and display clear disclosures about the irreversibility of transactions and the lack of government insurance.
Document Type
Congressional Bill
Official Title
Stop Crypto ATM Scams Act
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