Image Credit: Shutterstock
U.S. Representatives María Elvira Salazar, a Florida Republican, and Sean Casten, an Illinois Democrat, introduced the Stop Crypto ATM Scams Act on June 11, according to a release from Salazar’s office.
The bill would set transaction limits, mandate scam warnings and require operators to maintain transaction and kiosk location records following FBI-cited losses of more than $333 million in 2025.
FBI Data Shows Seniors Bore 85% of Reported Crypto ATM Losses
The release cited FBI figures showing reported crypto ATM scam losses rose 33% from the previous year. In cases where a victim’s age was known, people 60 and older accounted for more than 85% of losses linked to crypto ATM fraud.
The Stop Crypto ATM Scams Act would establish new safeguards to help prevent fraud, strengthen transparency requirements for crypto ATM operators, and provide law enforcement with additional tools to investigate and stop these scams.
Casten said in announcing the legislation that crypto ATMs offer criminals an easy way to target seniors. Salazar said seniors should not have to worry about criminals using new technologies to steal from them, citing South Florida’s large senior population as a reason the issue is particularly relevant to her district.
Crypto ATM Operators Would Face New Limits and AML Rules
Under the proposal, crypto ATM operators would be required to implement written anti-money laundering programs, conduct customer due diligence, verify identification, report suspicious activity, and maintain transaction and location records.
New transaction limits would apply based on customer history. New customers would face a $2,000 daily limit and a $10,000 total deposit limit during their first 14 days, while existing customers would be limited to $7,500 in daily transactions.
More than 30,000 crypto ATMs operate across the United States in locations including gas stations, convenience stores and shopping centers. The release said scammers often impersonate banks, government agencies, law enforcement officials or other trusted institutions before pressuring victims to use the machines.
Crypto ATM Bill Adds Fraud Warnings, Refunds, and State Protections
Operators would be required to provide scam warnings, fraud alerts and consumer disclosures before transactions are completed, including clear fee and cryptocurrency pricing information with market price references. The bill would also require timely refunds of charges collected on fraudulent transactions.
The legislation would set federal transaction standards while preserving state authority, allowing states to adopt additional fraud safeguards, consumer protections, or ban crypto ATM operations outright. The bill differs from a separate Senate measure, the Crypto ATM Fraud Prevention Act, which remains pending in the 119th Congress.
