Crypto ATM Fraud Prevention Act of 2025

Key Points

• Crypto ATM operators would have to register every machine's location with the Treasury Department and update that list every 90 days. They must also hire a full-time compliance officer who cannot be the company's CEO or a major owner.
• First-time customers would be limited to $2,000 per day and $10,000 total at crypto ATMs. Any first-time transaction of $500 or more would require a live phone or video call with a company employee to confirm the customer is not being scammed.
• New customers who are tricked by scammers would be entitled to a full refund of the transaction amount and all fees. Existing customers who are scammed would get their transaction fees refunded. If a company refuses to pay, the customer could sue for triple damages or $10,000, whichever is more.
• Machines would have to display clear warnings about common scams before each transaction, including impersonation of government officials, threats of jail time, and fake job offers. Within one year, every machine must print a physical receipt with a customer service number and refund instructions.
• Companies that violate any part of the law could face fines of $10,000 per day for each ongoing violation. Operators must also use blockchain analytics tools to block transactions headed to wallets tied to known fraud or criminal activity.

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Related Bills

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