Wisconsin Eyes Bitcoin ATM Regulations Amidst Fraud Concerns

The Wisconsin Department of Financial Institutions (DFI) is proposing new legislation that would regulate Bitcoin ATMs within the state. This move aims to tackle rising scams and fraud, particularly related to these machines. Key points include mandatory Know Your Customer (KYC) procedures and a transaction limit of $1,000 per ATM. These changes would bolster existing money transmission laws and streamline regulatory oversight for Bitcoin ATM operators.