On March 18, 2025, the North Dakota Senate passed a bill regulating cryptocurrency ATMs by imposing a $2,000 daily transaction limit.
House Bill 1447: Key Points
The bill was passed with a vote of 45 to 1. It mandates ATM operators to acquire a money transmission license and use blockchain analysis tools. They must also submit quarterly transaction reports.
Challenges for Small Operators
While the measures aim to reduce fraud risk, they could pose challenges for small operators due to increased compliance costs. Consumers might turn to larger exchanges for bigger transactions.
U.S. Trend in Regulation
Similar measures have been adopted by states like California and Minnesota. Fraud case increases have prompted these actions, although compliance costs may stifle smaller businesses.
North Dakota joins the trend of increasing cryptocurrency regulation in the U.S., aiming to ensure consumer protection.
