Morrisey signs legislation that regulates crypto ATMs in West Virginia [Yahoo! Finance]
Financial Institutions, Inc. (FISI)
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Source: Yahoo! Finance
West Virginia Gov. Patrick Morrisey has signed a bill regulating crypto ATMs in the state. House Bill 5353 will bring virtual currency kiosks under the purview of the money transmission licensure and set disclosure requirements and daily transaction limits for the machines. The bill also requires written paper receipts of transactions and requires ATMs to allow new customers to cancel and receive refunds for fraudulent transactions under some circumstances, among other things. AARP West Virginia, the state's largest nonpartisan organization advocating for older West Virginians, advocated for the bill. A poll by the organization found that most voters in the state support increased regulations for the kiosks. The machines were used in scams — mostly targeting older people — that led to more than $333 million in losses in 2025, according to AARP. Twenty other states have also enacted safeguards against crypto-related fraud, according to the organization. The bill passed nearl
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