A bipartisan bill would regulate cryptocurrency kiosks in Wisconsin by restricting how much can be taken out in a single day and requiring operators to give full refunds to people if their transactions are the result of fraudulent activity.
A CoinFlip bitcoin kiosk, shown near the entrance to Regent Mart & Cafe on Regent Street in Madison, would be among the devices facing stricter regulations under a new bipartisan bill. The proposal, which aims to protect seniors from being defrauded out of their savings, would limit daily purchases with ordinary money to $500 and require kiosk operators to refund losses from fraud.
Bitcoin kiosks, like this one in a shopping mall in New Jersey, accept regular cash like ATMs and allow users to buy and sell cryptocurrency — usually for a hefty fee.
The bill seeks to regulate crypto kiosks as a way to protect senior citizens from scammers who convince them to turn their life savings into d…
A CoinFlip bitcoin kiosk, shown near the entrance to Regent Mart & Cafe on Regent Street in Madison, would be among the devices facing stricter regulations under a new bipartisan bill. The proposal, which aims to protect seniors from being defrauded out of their savings, would limit daily purchases with ordinary money to $500 and require kiosk operators to refund losses from fraud.
Bitcoin kiosks, like this one in a shopping mall in New Jersey, accept regular cash like ATMs and allow users to buy and sell cryptocurrency — usually for a hefty fee.
