North Dakota Senate Approves Bill Limiting Crypto ATM Transactions to $2,000 Daily

On March 18, North Dakota took a significant step in regulating cryptocurrency ATMs by approving House Bill 1447. The bill, aimed at curbing fraud and enhancing oversight, imposes a $2,000 daily transaction limit per user. With North Dakota currently hosting around 45 of the approximately 29,730 Bitcoin ATMs across the United States, the legislation seeks to protect residents from rising fraud cases linked to these machines. HB 1447 requires operators to obtain a money transmitter license, provide clear disclosures in the customer's preferred language, and use blockchain analytics tools to detect fraudulent transactions. Crypto ATMs must also display fraud warnings, and operators must maintain a written anti-fraud policy. The bill mandates live customer assistance on weekdays from 8 A.M. to 10 P.M. Central Time, with a toll-free number displayed on the machine.