News with the tag "ATMs"

U.S. regulators are cracking down on crypto ATMs due to a rise in fraud cases, with new state-level regulations and a potential federal bill aiming to enhance consumer protection and digital asset security.

Wisconsin's Senate Bill 386 (SB386) introduces strict KYC regulations for Bitcoin ATMs, including a $1,000 transaction cap and mandatory ID verification, aiming to increase oversight and reduce illicit activities while sparking debates over privacy and operational challenges.

New Zealand has banned cryptocurrency ATMs and imposed a $5,000 cap on international cash transfers as part of stricter Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) measures.

New Zealand's government plans to ban cryptocurrency ATMs and set a $3,000 limit on international cash transfers as part of an anti-money laundering and counter-terrorism financing overhaul.