alexanderjones

@alexanderjones

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@alexanderjones

Durbin’s proposed legislation would require crypto ATM operators to warn users of scams to prevent fraud. Additionally, it will introduce measures to minimize loss of funds and empower law enforcement with tools to track illicit transactions.

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@alexanderjones

Currently, 37,226 cryptocurrency ATMs are active globally. The growth of the crypto ATM ecosystem has stagnated since mid-2022 owing to evolving regulations and crackdowns on unregistered businesses.

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As of March 3, the US hosts 29,731 crypto ATMs, representing 79.9% of all crypto teller machines worldwide. Canada and Australia take up the next two spots, with 3,085 ATMs (8.3%) and 1,467 (3.9%) respectively.

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On Feb. 25, Illinois Senator Dick Durbin proposed legislation to target fraud at crypto ATMs in the US, citing a recent incident involving one of his constituents. His proposal came the same month that 860 new crypto ATMs were installed in the US.

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More than 1,200 cryptocurrency ATMs mysteriously went offline in the United States during the first weekend of March, just days after a senator introduced the Crypto ATM Fraud Prevention Act to stop crypto ATM fraud.

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The bill, sponsored by Republican Senator Mark Finchem, would create a “Digital Assets Strategic Reserve Fund” administered by the state treasurer that would consist of money appropriated by the legislature and crypto seized by the state.

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“This bill will require crypto ATM operators to warn consumers about scams and take reasonable steps to prevent fraud at their machines,” said Senator Durbin. “It will also put in place measures to limit the amount that consumers lose when they do fall victim to scams, give law enforcement new tools to track down and fight back against criminals.”

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The statement came nearly three weeks after South Korean authorities sanctioned 15 North Koreans for allegedly generating funds for North Korea’s nuclear weapons development program through cryptocurrency heist and cyber theft.

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https://warpcast.com/johnsonapollo42/0x47eb1a59

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https://warpcast.com/sophiasmith77609/0xaf0fe099

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https://warpcast.com/wilson1239ava/0xb6e517ad

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The results of the candidate interviews will be presented at the next meeting on Feb. 27, and Apollo said multiple vendors are likely to be chosen. He expects testing to begin soon, as they can adapt their existing stablecoin solutions to Wyoming’s requirements,

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The commission has also been examining the use of zero-knowledge proofs to provide compliant privacy, as businesses are often reluctant to use a fully transparent blockchain for payments because it tells their competitors exactly how their business runs. Apollo suggested a related desirable attribute of the selected blockchain would be the ability to use a subnet or layer 2 to enable permissioned onboarding and to keep certain transactions private.

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“Interesting because there aren’t CME futures yet and I’m not sure if the Coinbase SOL futures are large and liquid enough,” ETF analyst James Seyffart posted on X.

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On Jan. 17, at least four proposals were submitted as the crypto industry anticipates regulatory shifts under the incoming administration of President-elect Donald Trump, which is expected to adopt a more crypto-friendly stance.

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A rush of cryptocurrency exchange-traded fund (ETF) filings have hit the US Securities and Exchange Commission (SEC) just days before Gary Gensler steps down as chair on Jan. 20.

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An unidentified threat actor breached employee workstations at the Treasury on Dec. 2, 2024, gaining access to certain “unclassified” documents.

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https://warpcast.com/ireneevans451/0xe5bc2b59

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“We have rejected submissions that didn’t include key components necessary for us to carry out an assessment, or the poor quality of key components meant the submission was invalid,” the regulator noted.

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However, some analysts have expressed concerns about MicroStrategy’s Bitcoin buying spree, which is being fueled by cheap financing and excessive hype.

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