New Hampshire House Committee Weakens Crypto ATM Regulations

A House committee in New Hampshire has made significant changes to a Senate-passed bill aimed at regulating cryptocurrency transactions at ATM kiosks.

The revised bill, which is expected to be debated by the full House, would limit refunds for victims of crypto scams and set lower transaction limits compared to the original measure. According to proponents, the changes are necessary to prevent companies from leaving the state due to over-regulation. However, critics argue that the amendments do not provide sufficient protections for consumers.

Crypto ATMs, also known as virtual currency kiosks or BTMs, have become a common tool for scammers due to their ease of use and ability to facilitate quick transactions. The Senate-passed bill would have given customers 14 days to demand and receive refunds if they fell victim to scams.

Under the revised House bill, only new customers would be eligible for a refund within 72 hours after turning cash into cryptocurrency. Additionally, cities and towns would be prevented from adopting ordinances with stronger protections against crypto scams.