US Lawmakers Urge Crypto ATM Operators to Protect Senior Users

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A group of Democratic Senators has sent a request to 10 of the largest crypto ATM operators in the United States to address fraud and protect senior citizens.

In a joint statement released on September 12, seven Senators, including Elizabeth Warren, expressed concern over data from the Federal Trade Commission showing that losses from Bitcoin ATMs have reached $65 million in the first half of this year.

The Senators noted that criminals are specifically targeting older Americans, with individuals over 60 being three times more likely to report a loss using a Bitcoin ATM compared to younger adults.

The request was addressed to the CEOs or top executives of Bitcoin Depot, CoinFlip, RockItCoin, Bitstop, Coinhub, Unbank, Athena Bitcoin, Byte Federal, Cash2Bitcoin, and Margo, with the Senators calling on each company to take immediate action to address reports of their ATMs contributing to financial fraud against the elderly.