ChainCatcher News: Minnesota Democratic Farmer-Labor Party Representative Erin Koegel recently introduced Bill HF 3642, which aims to ban the placement and operation of cryptocurrency kiosks statewide. The proposal stems from multiple scam reports targeting seniors, some of whom faced severe financial hardship as a result. The Minnesota Department of Commerce expressed “strong support” for the bill and plans to propose broader consumer protection measures in the coming days.
Reportedly, Minnesota currently has about 350 cryptocurrency ATMs operated by 8 to 10 companies. Last year, the state received 70 related complaints, with reported losses totaling $540,000. The bill would repeal the existing regulatory framework established in 2024, including disclosure requirements and transaction limits.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
He calls for a temporary ban on political donations via cryptocurrency
The Chair of the UK's National Security Strategy Committee urged a temporary ban on political donations via cryptocurrency, citing increased foreign interference risks in elections. The recommendation includes stricter verification measures and a unified policing approach.
TapChiBitcoin2h ago
Warren Targets Trump-Linked Crypto Bank Bid
Sen. Elizabeth Warren is pushing regulators to block Trump-linked World Liberty Financial's bank charter over concerns about foreign ownership and potential corruption, demanding full disclosure of major stakeholders amidst rising tensions in crypto oversight.
CryptoFrontNews10h ago
Tether Freezes $4.2 Billion in USDt Over Three Years as Global Crypto Crackdown Intensifies
Tether froze 4.2 billion USDt in three years as regulators increased scrutiny on crypto crime.
USDt supply fell by $2.7 billion in two months marking the sharpest drop since 2022.
Authorities relied on Tether to blacklist wallets and restrict funds linked to fraud.
Stablecoin issuer Teth
CryptoNewsLand13h ago
What signals did the US SEC send behind the new 2% discount regulation for stablecoins?
The U.S. Securities and Exchange Commission (SEC) issued guidance on payment stablecoins on February 19, allowing broker-dealers to treat stablecoins with a 2% discount when calculating net capital, thereby giving them a legitimate status in capital calculations. This adjustment helps to integrate stablecoins into the mainstream financial system and promotes digital asset trading and services. Peirce's statement and the GENIUS Act could potentially change the market landscape, although federal and state frictions still exist. Nonetheless, this move paves the way for regulatory integration of stablecoins.
区块客14h ago
David Sacks Calls on Banks After Crypto Policy Shift
David Sacks calls for cooperation between the crypto industry and banks, highlighting existing tensions over stablecoin yield programs. He urges banks to compromise as crypto firms have already made adjustments. Ongoing negotiations may lead to a unified financial system.
Coinfomania18h ago
Former Mt. Gox CEO proposes hard fork to recover $5.2 billion USD worth of Bitcoin from the 2011 theft
Mark Karpelès, the former CEO of the crypto exchange that filed for bankruptcy, Mt. Gox, has just announced a proposal to execute a hard fork of Bitcoin to recover approximately 79,956 BTC — worth over $5.2 billion at current prices — from a "sleeping" address linked to the exchange's 2011 hack.
The proposal is to...
TapChiBitcoin19h ago
