Delaware and New Jersey Move Forward with Legislation to Fully Ban Cryptocurrency ATMs

TechFlow News, June 11: According to Cointelegraph, Delaware and New Jersey have advanced legislation to comprehensively ban cryptocurrency ATMs. Specifically, Delaware’s House Economic Development Committee has approved House Bill 441, which prohibits the ownership, installation, or operation of cryptocurrency ATMs and mandates removal of such devices within 90 days after the bill takes effect; violations carry a maximum fine of $10,000.

New Jersey’s Senate Commerce Committee has also unanimously passed a similar bill, imposing a maximum fine of $10,000 for first-time violations and up to $20,000 for repeat offenses. The report notes that this legislative push stems from concerns across multiple U.S. states about cryptocurrency ATMs being exploited for fraud.