Delaware and New Jersey Ban Crypto ATMs, Citing Fraud Risks
Delaware and New Jersey have enacted laws prohibiting crypto ATMs, citing elevated fraud risks. Violators face fines of up to $10,000.
The U.S. states of Delaware and New Jersey have passed legislation banning cryptocurrency ATMs. Lawmakers justified the move by pointing to increased fraud risks associated with these machines.
The new laws prohibit owning, installing, or operating crypto ATMs within state borders. Non-compliance can result in fines of up to $10,000 per violation.
Delaware's statute also restricts fiat-to-crypto exchange services that "simulate or replace" ATMs, such as those using point-of-sale systems or cash registers.
Source: ForkLog