Florida has taken a significant step in addressing crypto ATM scams by enacting a new law that requires virtual currency kiosk operators to implement robust fraud controls and refund policies.
The law, which takes effect on January 1, 2027, mandates that kiosks display conspicuous warnings before transactions, provide receipts with business contact details, and issue full refunds within 72 hours for fraudulent transactions.
The law also imposes daily transaction limits of $2,000 for new customers and $10,000 for existing customers, which is aimed at preventing scammers from exploiting victims in the first days of their relationship with a kiosk business.
The refund provision has strict limits, requiring customers to notify both the kiosk business and law enforcement within 60 days and provide proof of alleged fraud. This shift in responsibility places some of the immediate cost of fraudulent transactions on the operator.