Nebraska 'Open for Business' to Crypto With New Bitcoin ATM Law
Author: Content Editor
Nebraska has signed a bill into law, the Controllable Electronic Record Fraud Prevention Act (LB609), to protect users of Bitcoin ATMs and other electronic kiosks from fraudulent behavior. The law requires clear disclosures of terms and warnings about consumer fraud, as well as guidelines for reporting and receiving refunds for fraudulent activity. Nebraska aims to position itself as a leader in the cryptocurrency industry and welcomes legal businesses while cracking down on those who exploit Nebraskans. The rise in fraudulent activity at Bitcoin ATMs and cryptocurrency kiosks has prompted the implementation of these regulations. Nebraska is not currently considering legislation for a Bitcoin or cryptocurrency reserve like other states.
