Story perspectives

Bipartisan Bill Targets $333 Million Crypto-ATM Scam Losses

6/12/2026

Summary

Salazar, Casten Introduce

Rep. María Elvira Salazar (R-FL-27) and Rep. Sean Casten (D-IL-06) introduced the Stop Crypto ATM Scams Act.
The FBI said Americans lost over $333 million to crypto-ATM scams in 2025, a 33 percent rise, with victims 60 plus accounting for more than 85 percent of losses.
The bill would require anti-money-laundering (AML) programs, customer due diligence, suspicious-activity reporting, $2,000/$7,500 daily limits, $10,000 14-day deposit cap, and clear scam warnings with detailed records for law-enforcement.

Summary

NJ, DE Ban

New Jersey and Delaware banned cryptocurrency ATMs, forbidding ownership, installation and operation, with fines up to $10,000.
Delaware also bars fiat-to-crypto exchange services that act like ATMs, such as point-of-sale and cash-register conversions.
CoinFlip, the largest crypto kiosk operator, said it serves over 23,000 New Jersey customers with a sub-1% scam rate and urged mandatory anti-fraud measures instead of a ban.

Summary

Bitcoin Depot Bankruptcy

Bitcoin Depot filed for Chapter 11 bankruptcy in May 2026, triggering a contraction.
The FTC reported crypto-ATM scams cost $110 million in 2023, a tenfold increase since 2020.
California’s 2024 law and Maine’s 2025 law cap crypto-ATM fees at 15% and 3% and set $1,000 limits and 90-day fraud refunds.
Bitcoin Depot reported a Q1 2026 drop of $81 million (49%) and its bankruptcy will sell kiosks, BitAccess software and the Kutt Inc. and ReadyBucks acquisitions.

Summary

NC House Passes

North Carolina House passed Bill 920 unanimously, 115-to-0, and sent it to the Senate.
The bill lifts the fee cap to 14% and sets limits of $2,000 for new users and $5,000 after 30 days.
Rep. Tim Longest (D-Wake) pushed a 3% cap and lower limits, with his amendments rejected.
ATM Industry Association director David N. Tente warned refunds could be deemed theft and noted scams have existed for centuries.

History

Historical Context

In 2015, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its first comprehensive guidance on virtual-currency businesses, mandating anti-money-laundering compliance. FinCEN later reported that in 2014 illicit crypto transfers surpassed $1 billion, marking a 200 percent increase from the previous year global. That precedent mirrors the push, with Rep. María Elvira Salazar and Rep. Sean Casten’s Stop Crypto ATM Scams Act and bans in New Jersey and Delaware Bitcoin Depot. The early AML framework therefore pressures legislators to impose fee caps, deposit limits, and bankruptcy oversight, shaping the nation’s long-term crypto-ATM enforcement landscape.

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Salazar, Casten Introduce

Rep. María Elvira Salazar (R-FL-27) and Rep. Sean Casten (D-IL-06) introduced the Stop Crypto ATM Scams Act.
The FBI said Americans lost over $333 million to crypto-ATM scams in 2025, a 33 percent rise, with victims 60 plus accounting for more than 85 percent of losses.
The bill would require anti-money-laundering (AML) programs, customer due diligence, suspicious-activity reporting, $2,000/$7,500 daily limits, $10,000 14-day deposit cap, and clear scam warnings with detailed records for law-enforcement.

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