Lawmakers are seeking to curb crypto ATM fraud with a bipartisan bill that would set transaction limits, mandate scam warnings, and require transaction records and updated kiosk location records. The proposal follows FBI-cited losses of more than $333 million, with older Americans accounting for most known-age financial losses.
Key Takeaways:
- Lawmakers introduced a bipartisan bill targeting crypto ATM fraud after reported losses topped $333 million.
- Older Americans faced most known-age losses, making senior protections central to the proposal.
- Operators could face stricter limits, required warnings, refunds, and expanded state safeguards.
Bipartisan Bill Would Set Crypto ATM Limits and Scam Warnings
U.S. Representatives María Elvira Salazar (R-FL) and Sean Casten (D-IL) introduced the Stop Crypto ATM Scams Act on June 11, Salazar’s office announced. The bipartisan bill would add consumer protections, transparency rules, and law enforcement tools after Americans lost more than $333 million to crypto ATM scams in 2025.
FBI data cited in the release showed reported losses rose 33 percent from the previous year. Older Americans carried most of the financial damage in cases where a victim’s age was known, with people age 60 and older accounting for more than 85 percent of losses.
The release stated:
“The Stop Crypto ATM Scams Act would establish new safeguards to help prevent fraud, strengthen transparency requirements for crypto ATM operators, and provide law enforcement with additional tools to investigate and stop these scams.”
Crypto ATM operators would be required to implement anti-money laundering programs under the bill. They also would have to conduct customer due diligence, report suspicious activity, and maintain transaction and location records.
New transaction limits would apply to both first-time and existing customers. New customers would face a $2,000 daily limit and a $10,000 total deposit limit during their first 14 days, while existing customers would be limited to $7,500 in daily transactions.
Crypto ATM Rules Would Add Refunds, Disclosures, and State Authority
Operators also would need to provide scam warnings, fraud alerts, and consumer disclosures before transactions are completed. The bill would require clear fee and cryptocurrency pricing disclosures, including market price references, and timely refunds of charges collected on fraudulent transactions.
More than 30,000 crypto ATMs operate across the United States in gas stations, convenience stores, and shopping centers. The release said scammers often impersonate banks, government agencies, law enforcement officials, or trusted institutions before pressuring victims to transfer money through the machines.
The release noted:
“The Stop Crypto ATM Scams Act builds on those efforts by helping protect seniors from one of the fastest-growing forms of financial fraud and safeguarding the savings they spent a lifetime earning.”
South Florida’s large senior population was cited as a reason the issue is especially relevant to Salazar’s district. The bill also would preserve state authority by setting federal transaction standards while allowing states to adopt additional fraud safeguards and consumer protections.