U.S. Senator Cynthia Lummis is advocating for new protections for Bitcoin ATMs due to a surge in fraud, particularly against seniors. She is working with Senator Kirsten Gillibrand on legislation to tackle this growing issue.
Fraud associated with Bitcoin kiosks has escalated, with victim losses increasing by 31% in 2024, reaching nearly 247 million USD. The Financial Crimes Enforcement Network reported a significant uptick in complaints, particularly among older adults.
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