Stop Crypto ATM Scams Act
- Bill Number
- H.R. 9268
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Finance and Financial Sector
- Status
- Introduced
- Latest Action
- 2026-06-11: Referred to the House Committee on Financial Services.
- Last Updated
- 2026-07-08T15:09:31Z
AI-Generated Summary
Purpose
This legislation amends the Bank Secrecy Act to establish federal registration and compliance rules for operators of digital asset kiosks (commonly known as crypto ATMs). Its goal is to reduce risks of money laundering, fraud, and scams involving digital asset transactions at these machines.
Key Provisions
- Registration Requirements: Digital asset kiosk operators must register with the Treasury Department by submitting lists of physical kiosk locations in the U.S. and territories, including operator details, compliance officer contacts, and operation start/end dates. Updates are required every 90 days, and information is made publicly available.
- Anti-Money Laundering Program: Operators must implement and update an anti-money laundering program, report suspicious transactions, and file currency transaction reports. They must use blockchain tools to verify customer identities, screen for sanctions, assess illicit activity risks, and prevent shared wallet addresses.
- Transaction Limits: New customers face a $2,000 daily limit and $10,000 lifetime cap; existing customers are limited to $7,500 daily. Limits adjust for inflation every five years, with Treasury authority to modify them.
- Customer Disclosures: Operators must provide clear, prominent written disclosures before transactions, including scam warnings, statements on digital asset risks, price comparisons, and itemized fees (in English and the customer's primary language).
- Anti-Fraud Measures: Operators must display scam warnings on common tactics (e.g., impersonation or urgent requests), maintain written anti-fraud policies, obtain customer acknowledgments, provide receipts with transaction details and law enforcement contacts, and offer live customer service during extended hours.
- Refunds and Reporting: Refunds for charges are required within 30 days if fraud is proven via law enforcement reports. Operators must maintain dedicated contacts for law enforcement and receive annual fraud alerts from Treasury.
- State Coordination: States may issue compliance decals, enforce licensing, and impose additional consumer protections, though federal rules preempt state transaction limits.
Significant Changes to Existing Law
- Expands the Bank Secrecy Act's registration rules (31 U.S.C. § 5330) to explicitly cover digital asset kiosk operators.
- Introduces a new section (31 U.S.C. § 5337) with tailored anti-money laundering, disclosure, and fraud prevention rules specific to digital asset kiosks, including definitions for terms like "digital asset," "market price," and "new customer."
- Establishes mandatory transaction caps and refund mechanisms not previously required for these operators.
Potential Impacts
- Government Agencies: Increases oversight duties for the Treasury Department and Financial Crimes Enforcement Network (FinCEN), including public database maintenance, rulemaking within 180 days, and coordination with states and law enforcement.
- Citizens: Provides stronger consumer protections through disclosures, limits on high-risk transactions, and refund options, potentially reducing losses from scams.
- International Relations: No direct effects noted, though enhanced domestic controls may indirectly support global anti-money laundering efforts.
Main Stakeholders Affected
- Digital asset kiosk operators (subject to new registration, compliance, and operational costs).
- Customers using these kiosks (gaining disclosures and protections but facing transaction limits).
- Federal agencies such as Treasury, FinCEN, the Federal Trade Commission, and the FBI (for enforcement and alerts).
- State regulatory agencies (retaining licensing authority while subject to federal preemption on limits).
Notable Legal, Constitutional, or Political Implications
- Includes federal preemption of state laws on transaction value limits but preserves state authority for licensing and other consumer protections, potentially creating a layered regulatory framework.
- Emphasizes consumer consent acknowledgments without limiting state or local remedies, avoiding conflicts with existing laws.
- Requires public disclosure of operator data, raising considerations around privacy and transparency in financial operations.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Rep. Salazar, Maria Elvira [R-FL-27]
Recent Actions
- 2026-06-11: Referred to the House Committee on Financial Services.
- 2026-06-11: Introduced in House
- 2026-06-11: Introduced in House
Bill Versions
- Stop Crypto ATM Scams Act — issued 2026-06-11 — PDF (20 pages)