MADISON, Wis. (WRN) — Legislation at the Capitol is hoping to put a stop to cryptocurrency kiosk scams.
“Scammers will often pretend to be a government official, technical support, or bankers and direct the target to withdraw thousands of dollars and insert them into these crypto kiosks where the dollars are immediately converted into cryptocurrency that is delivered to scammers, often overseas,” said Weston Republican Representative Patrick Snyder, one of the bill’s authors.
The bill would require more secure identity verification methods, establish daily transaction limits, and allow those for think they’ve fallen victim to a scam get refunds.