Arizona is taking steps to address the growing issue of scams and frauds in Bitcoin ATMs. State representative David Marshall has submitted a bill proposing changes to crackdown on illegal activities, including capping daily transactions at $1,000 and requiring operator licenses. The bill also aims to implement refund policies and other measures to combat illegal activities. Arizona has experienced significant losses to cryptocurrency fraud, particularly targeting vulnerable older citizens. The state has approximately 600 Bitcoin ATMs. The lack of regulations surrounding Bitcoin ATMs is seen as a contributing factor to the increase in scams, prompting the push for legislation. Law enforcement agencies are also taking action, with initiatives such as placing warning signs at ATM stands. Fraud analysts estimate that only a small fraction of Bitcoin ATM users are conducting legitimate transactions, highlighting the scale of the problem.



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