Wisconsin Senate Proposes Strict KYC Rules for Bitcoin ATMs

A new bill from the Wisconsin Senate could significantly alter how Bitcoin ATMs operate within the state. The proposed legislation mandates full Know Your Customer (KYC) verification on all transactions, requiring customers to present photo ID for every purchase, regardless of the amount. Additionally, a daily transaction cap of $1,000 per person is proposed along with extensive data collection by operators. These measures aim to combat fraud, money laundering, and other illicit activities related to cryptocurrencies.