MADISON, Wis. (WRN) — A bill aimed at preventing crypto kiosk scams could be taken up by the state Senate.
The bill has already passed the Wisconsin Assembly with bipartisan support. Scott Goldberg, an investigator with the Wood County Sheriff’s Office, testified before a Senate committee on the fast moving nature of scams involving crypto kiosks and wallets.
“So one of our investigators advised us that during the investigation, they found that wallet moved hands three times in less than 10 minutes. We can’t write the first paragraph of a search warrant in 10 minutes,” said Goldberg.
John Turk with Chicago based crypto kiosk operator Coinflip was questioned by Senator Jesse James.
“There’s the guidance and recommendations, but it’s still taking advantage of our people,” James said.
Well, and I think that’s where DFI needs to step in and ensure that their licensed operators are actually doing what they should be doing. And if they’re not, their license should be revoked or they should be fined,” Turk said.
AARP Wisconsin is urging Senate passage of the bill.