Crypto ATM bans, restrictions now in effect in Tennessee and Georgia
Cryptocurrency ATMs are fast disappearing from the American landscape as kiosk operators in two US states face bans and restrictions as new laws go into effect. Crypto ATM laws passed by Tennessee and Georgia went into effect on Wednesday, imposing a complete ban in the former and requiring transaction limits and reporting in the latter. The measures by the two states followed bans in Indiana, which went into effect in March, and Minnesota, set to enforce an ATM ban on Aug. 1. The Tennessee law, signed by Governor Bill Lee in April, bans the use and installation of cryptocurrency ATMs and kiosks, while the Georgia law requires that ATM operators cap money sent for new and existing users, issue warnings to customers and in some cases refund those who may have been the victims of fraud. There were 185 crypto ATMs and kiosks operating in Tennessee before the statewide ban took effect on July 1. Source: CoinATMRadar Many US state governments and municipalities have individually begun cracking down on crypto ATM operators in response to incidents of residents, particularly senior citizens, being conned into sending funds to scammers. Delaware and New Jersey lawmakers have proposed similar measures completely banning the machines. Related: Massachusetts city to