Wisconsin to tighten rules for crypto ATMs
Date: 2025-07-22 Author: Gabriel Deangelo Categories: IN WORLD
Wisconsin plans to pass a law that will limit the amount of transfers through crypto ATMs to $1,000 per day and require operators to reduce fees. In addition, companies will be required to place warnings on terminals about the risk of fraudulent schemes. In the event that customers do fall victim to fraudsters, the owners of the devices will be required to compensate for the damage incurred.
According to representatives of the prosecutor's office, the new measures are aimed at improving the safety of citizens, as the number of crimes using crypto ATMs is growing. Recently, more and more residents of the state have become victims of fraudsters who use such devices to transfer funds. Recently, a person contacted the police who lost $40,000 by sending it to scammers through a crypto ATM.
Police Lieutenant Scott Goldberg noted that crypto ATMs pose a particular threat because they are not regulated as strictly as traditional ATMs. Because of this, victims of fraud are often unable to get their money back. Goldberg is confident that the new restrictions will help reduce residents' losses and prevent fraudsters from using terminals for selfish purposes.
UW Credit Union Manager Scott Reeder emphasized that it is almost impossible to return funds sent through crypto ATMs. Despite the fact that victims can contact the police, most investigations come to a standstill, since law enforcement and companies do not have sufficient resources to compensate for the damage. Wisconsin Senator Kelda Royce urged citizens to be especially careful and never send money to strangers.
It is noteworthy that similar measures are already in effect in Iowa. A law was recently passed there requiring crypto ATM operators to limit the daily transaction limit to $1,000. In addition, users have the right to file a complaint with the police within 90 days after the transfer.
Thus, the Wisconsin authorities hope that the new rules will reduce crime and help people protect their savings. Now, businesses working with crypto ATMs will have to adapt to the new requirements in order to maintain customer trust and avoid fines.
