North Dakota proposes bill to impose strict regulation on encrypted ATMs, intending to limit transaction limits and require ATM machines to display fraud warnings

On January 23rd, according to Cointelegraph, the North Dakota state legislature in the United States proposed Bill 1447 to implement strict regulation of cryptocurrency ATMs. Lisa Kruse, Commissioner of the State Department of Financial Institutions, revealed during a hearing on January 22 that a total of 103 residents in the state reported cryptocurrency fraud cases to the FBI in 2023, resulting in a total loss of $6.5 million. According to the bill, the daily withdrawal limit will be limited to $1000, with a maximum transaction fee of $5 or 3% (whichever is higher), and ATM machines will be required to display fraud warnings.