Nebraska Approves Bill to Regulate Crypto ATMs

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Nebraska Governor Jim Pillen has signed a new law aimed at combating cryptocurrency fraud amid a rise in crypto ATM crimes across the United States.

“Cryptocurrency is a significant and emerging industry, and we’ve been actively working to position Nebraska as a leader in this field,” Governor Pillen stated on March 12 after approving the bill. “A key part of these efforts is ensuring we have measures in place to protect Nebraskans from criminal exploitation,” he added.

The bipartisan legislation introduces the “Controllable Electronic Record Fraud Prevention Act,” aimed at preventing fraud and safeguarding users of crypto kiosks and ATMs.

According to the Federal Trade Commission, over $65 million has been lost to crypto ATM fraud in the first half of 2024. The commission noted in September that fraud losses at Bitcoin ATMs have surged nearly tenfold from 2020 to 2023.