Members of the North Dakota legislature have introduced a bill aimed at combating Crypto ATM transactions after 103 state residents reported losses of $6.5 million due to Crypto fraud in 2023. House Bill 1447, introduced to the state legislative assembly on January 15, will limit Crypto ATM withdrawals to $1,000 per day and require machines to issue fraud warning notifications.

Lisa Kruse, the Commissioner of the North Dakota Department of Financial Institutions, told members of the House Industry, Business and Labor Committee on January 22 that residents of the state filed 103 Crypto fraud complaints with the FBI with a total loss of $6.5 million in 2023. The main sponsor of the bill, Representative Steve Swiontek, noted that Crypto ATMs currently do not have the same protections as traditional cash ATMs, making it easier for scammers to defraud their victims.