North Dakota Senate Approves Cryptocurrency ATM Bill
The North Dakota Senate passed House Bill 1447 on March 18, 2025, which regulates cryptocurrency ATMs by enforcing a $2,000 daily transaction limit.
The legislation aims to protect consumers from rising cryptocurrency-related fraud and may shift the industry toward regulated operations.
North Dakota Senate Votes 45-1 for Crypto ATM Bill
House Bill 1447 was passed by the North Dakota Senate with a vote of 45 to 1. The bill was introduced in response to a rise in cryptocurrency fraud targeting users, particularly older adults. It requires ATM operators to obtain a state money transmission license and use blockchain analysis tools for monitoring purposes. The ATM operators are also required to provide quarterly reports, including transaction data.
“This legislation is designed to protect consumers from the rising tide of cryptocurrency fraud that has particularly targeted our older residents.” — Josh Askvig, Legislator, North Dakota State Assembly
$2,000 Daily Limit Poses Challenges for Small Operators
The measures are expected to curb potential victims’ exposure to fraud, particularly among the elderly who have reported losses. Industry experts suggest that the introduction of stricter regulations could challenge smaller ATM operators, forcing some out of the market due to increased compliance costs. Consumers may turn to larger exchanges for transactions exceeding the limit.
U.S. States Join Trend in Crypto ATM Regulations
Similar legislative actions have been taken by several U.S. states, such as California and Minnesota, as regulatory measures gain momentum. Past increases in fraud cases may have prompted such interventions, as the Federal Trade Commission reported notable fraud losses. Experts indicate that while consumer protection is prioritized, regulatory costs may hinder smaller businesses, moving the industry towards consolidation.
