Texas Congressman Proposes Crypto ATMs in Federal Buildings

Texas Republican Representative Lance Gooden has requested the General Services Administration (GSA) to study the feasibility of installing cryptocurrency ATMs in federal buildings. According to a letter reviewed by CoinDesk on Thursday, this initiative aims to support President Trump's pro-digital asset stance. The proposal seeks to position the United States as a global leader in cryptocurrency and blockchain technology. Gooden's letter to GSA Acting Administrator Stephen Ehikian emphasizes the need for clear guidelines for the installation and operation of crypto ATMs. These guidelines should focus on robust identity verification measures and transparency in transaction fees. The GSA already hosts traditional ATMs in some of its facilities. This proposal comes amid scrutiny of crypto ATMs due to their use in scams. Senator Dick Durbin has pushed for the Crypto ATM Fraud Prevention Act, and New Jersey is considering a bill requiring operators to warn users about potential scams. Bitcoin Depot reported a decrease in transactions and revenue from its ATMs last month, despite the rise in Bitcoin trading.