Texas Lawmakers Demand Regulation After Crypto Kiosk Scams Drain $56 Million

Crypto kiosks have been used to scam Texans out of $56 million last year, prompting lawmakers to call for regulation.

The Texas Tribune reported that fraudsters are increasingly using the ATM-like machines for fast access to money that's difficult to trace.

Lawmakers are now pushing for stricter regulations on these kiosks, which allow users to exchange cash for cryptocurrencies like Bitcoin.