Wisconsin Democrats scale up scrutiny on crypto ATMs with new bills

Description

Wisconsin Democrats introduced companion Senate Bill 386 weeks after filing Assembly Bill 384 to tighten regulations on crypto kiosks amid rising scam-related losses. The proposals require crypto kiosks and ATMs to have money transmission licenses, imposing additional regulations on current laws under the Department of Financial Institutions’ Division of Banking. The proposals also require retail crypto spots to have strict KYC verifications and a daily transaction cap of $1,000 per customer. Fe...