#SenateBill
On August 11, 2025, the Democrats of Wisconsin introduced the second bill in two weeks (Senate Bill 386) aimed at strengthening the regulation of cryptocurrency ATMs amid a rise in fraud cases.
Senate Bill 386, introduced by Senator Kelda Roys and six colleagues, duplicates Assembly Bill 384, submitted on July 31, 2025.
Both documents propose a unified regulatory framework and provide for:
- mandatory licensing of payment transmitters for operators;
- strict identity verification and collection of personal data (name, date of birth, address, phone number, identification document);
- transaction limits of up to $1000 per day per customer;
- fee caps of $5 or 3% of the transaction amount (whichever is higher);
- mandatory fraud warnings on every cryptocurrency ATM;
- a full refund policy if the incident is reported to the operator and law enforcement within 30 days.
The initiative came after an urgent warning from the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury about a 99% increase in fraud complaints related to cryptocurrency ATMs in 2024, with victim losses reaching nearly $247 million.
