New Hampshire Senate Targets Cryptocurrency Scams with Tough Regulations

The rise in cryptocurrency scams has prompted lawmakers in New Hampshire to take action. A recent report showed that Granite Staters lost $22 million to scammers in 2024, with a significant portion of these losses affecting seniors.

According to the bill cleared by the Senate, operators would be required to hold a person's first deposit for 48 hours, giving customers time to cancel if they detect a scam. Additionally, there would be a $2,000 per-day limit on deposits, and operators would have to refund scam victims if they report fraud within 14 days.

The legislation aims to disrupt the pressure tactics often used by scammers, who convince victims to deposit cash into cryptocurrency ATMs, making it difficult for authorities to track or reclaim the funds. The bill's design links reimbursement to quick reporting, shifting incentives for victims to act fast and operators to pay attention to scam signals early.