New Hampshire Lawmakers Regulate Cryptocurrency Kiosks Amid Scam Concerns

New Hampshire lawmakers have taken a significant step towards regulating cryptocurrency kiosks, passing Senate Bill 482 with a vote of 214-140. The bill aims to prevent scams involving these machines, which are known to be used by fraudsters to launder money and swindle individuals out of their savings.

The legislation sets an indefinite limit of $2,000 per day in transactions for customers using the kiosks, as well as a two-week refund period. It also mandates that operators provide clear information about fees and charges, and prohibits them from making false or misleading claims to attract customers.

Rep. Keith Ammon's amendment, which was recommended by the Republican majority of the House Committee on Commerce and Consumer Affairs, failed to pass despite being heavily promoted by its author. The amendment would have set a limit of $3,000 for new customers' transactions, but critics argued that it protected the interests of kiosk operators at the expense of consumers.