The American state of Northern Dakota is about to create a license regime for crypto automatic counters after its Senate has adopted a bill which provides a regulatory framework for industry.
Initially presented on January 15, House Bill 1447 aims to protect consumers from scams involving automatic distributors of cryptographic tickets by obliging operators to issue warnings of fraud on screen to users, to obtain cash issues,
In addition, operators must appoint a compliance agent.
A TRM Labs report revealed that automatic cryptographic ticket distributors have facilitated at least $ 160 million in illicit transactions since 2019, has previously reported Coindesk, the police, considering them as money laundering and a risk of major scam.
FTC data also shows an increase of almost ten years of loss of Bitcoin ATM scam since 2020.
In the United Kingdom, the Financial Conduct Authority, the country’s market regulator, increased sector control with repressions against unregistered operators.
In 2024, the FCA billed Olide Osunkoya for directing automatic illegal ticket distributors that treated $ 3.4 million, marking the first charts of this type in the country. Osunkoya was recently sentenced to four years for his role in the ATM network of illegal cryptography, and was also convicted of counterfeiting, using false identity documents and in possession of criminal goods.
With the increase in fraud and regulatory examination, the number of automatic cryptographic ticket distributors does not increase despite the growth in BTC prices in 2024. Coinatmradar market data show that the number of crypto automatic counters in the United States has been almost flat since 2022.
