The North Dakota Senate has approved a bill regulating crypto ATMs, reinstating a daily transaction limit of $2,000 per user, a change from a prior House bill which had looser limits. The Senate passed House Bill 1447 with a 45-to-1 vote on March 18. The legislation aims to protect residents from scams by enforcing new guidelines for crypto ATMs and requiring operators to be licensed as money transmitters. The initial transaction cap was set at $1,000, but changes made by the House committee increased this limit to $2,000 for the first five transactions within a 30-day period. Furthermore, operators must monitor for suspicious activities and report them to authorities, along with quarterly reports on kiosk locations and transaction data. The bill now heads back to the House for approval of the Senate changes before it can be signed into law by Governor Kelly Armstrong. The measure emphasizes the increasing need for consumer protection in the expanding cryptocurrency space, especially in light of rising fraud involving Bitcoin ATMs.

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