119th (2025–2027)
S. 710
The Crypto ATM Fraud Prevention Act of 2025 requires operators of cryptocurrency ATMs (called "virtual currency kiosks") to register with the U.S. Treasury Department and implement strict anti-fraud measures to protect consumers from scams. Operators must provide clear disclosures and warnings before transactions, issue physical receipts with transaction details, hire full-time compliance officers, and use blockchain analytics to detect fraudulent activity. The bill also limits new customers to $2,000 per day and $10,000 total in transactions, requires verbal confirmation for transactions over $500, and mandates that operators offer refunds within 30 days for customers defrauded into using the kiosks. Operators who violate these requirements face civil penalties of $10,000 per violation, with each day of non-compliance counting as a separate violation. The law takes effect 90 days after enactment and allows states to impose even stricter protections if they choose.