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Daily Limit on Crypto ATM Transactions in North Dakota Now $2,000

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by Giorgi Kostiuk

3 hours ago

The North Dakota Senate passed bill HB 1447, imposing a $2,000 daily limit on crypto ATM withdrawals to fight fraud.

Crypto ATM Withdrawal Limits

The North Dakota Senate approved HB 1447, instituting a $2,000 daily withdrawal limit from crypto ATMs. This legislation aims at stricter compliance to combat crypto-related fraud.

Focus on Fraud Prevention

Bitcoin is currently trading at $30,000, yet the bill is focused on fraud rather than direct market impact. It requires crypto ATM operators to obtain licenses and use blockchain analysis tools to prevent misuse.

“Our department oversees banks, credit unions, and other financial entities. We support this Bill as it defines an area where we already have jurisdiction.”Lisa Kruse, Commissioner, North Dakota Department of Financial Institutions

Other States Follow Suit

Similar legislation has been enacted in Nebraska, indicating a trend towards consumer protection in the crypto domain. Experts predict the bill may set a precedent for tighter regulations nationwide.

The daily limit on crypto ATM withdrawals in North Dakota marks a step towards enhanced consumer protection and regulatory compliance.

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