Illinois Democratic Senator Dick Durbin has announced a new bill that aims to prevent fraud in connection with crypto money machines.
According to the Federal Trade Commission (FTC), Americans have $ 66 million in losses in Crypto -Atm -wang in the first half of 2024 ago.
Durbin says that his potential legislation would require crypto atm operators to warn consumers about fraud and take steps to prevent fraud in their machines, and it would determine measures that would limit the amount of people losing if they were scammed.
The legislator of Illinois explains,
“There are now more than 30,000 cryptocurrency money machines in this country. And they are used by criminals to cheat Americans from their hard -earned savings for an amount of $ 114 million alone in 2023. Most victims are seniors. It is a thing of the past that we use a number of common sense guardrails to put fraud in this largely unregulated industry. “
Durbin says that the FBI’s internet crime complaints center has received nearly 2,700 crypto ATM fraud complaints from persons aged 60 and older in 2023, more than all other demographic data of age.
The Senator’s bill would also provide law enforcement ‘new tools’ to detect crypto atme fraudsters.
Durbin’s potential legislation comes out as the number of domestic crypto money machines decreases. The US lost 1,228 machines in February, by data from Coin ATM radar.
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