H.R.9268

Stop Crypto ATM Scams Act mandates registration and compliance with anti-money laundering and anti-fraud requirements for digital asset kiosk.

The Stop Crypto ATM Scams Act amends the Bank Secrecy Act to impose registration and compliance requirements on digital asset kiosk operators. These operators must register with the Secretary of the Treasury, submit physical addresses of their kiosks, and update this information every 90 days. They must also develop and implement anti-money laundering and anti-fraud programs, including identity verification and risk assessment. New customers face transaction limits of $2,000 per day and $10,000 in total, while existing customers are limited to $7,500 per day.