U.S. Senator Cynthia Lummis (R-WY) has called for stronger safeguards around cryptocurrency ATMs, amid growing concerns that the machines have become a favoured tool for scammers preying on seniors.
Lummis said she intends to address the problem in upcoming market structure legislation she is co-sponsoring with Senator Kirsten Gillibrand (D-N.Y.).
“This is something that has concerned me for a long time, and Senator Gillibrand and I first introduced legislation stopping bad actors in the crypto kiosk space in 2023,” Lummis tweeted on Monday. “This is just one of the issues we hope to address in market structure.”
The push comes as law enforcement and regulators see a surge in fraud tied to the machines, which allo
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Author: Callan Quinn
