TechFlow reported on January 23 that, according to Cointelegraph, the North Dakota state legislature has introduced Bill 1447 to impose strict regulations on cryptocurrency ATMs. Lisa Kruse, Commissioner of the state's Department of Financial Institutions, revealed during a hearing on January 22 that in 2023, 103 residents of the state reported cryptocurrency fraud incidents to the FBI, with total losses amounting to $6.5 million. Under the proposed bill, daily withdrawal limits would be capped at $1,000, fees would be limited to either $5 per transaction or 3%—whichever is higher—and ATMs would be required to display fraud warnings.
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