$2,000 crypto ATM limit as North Dakota Senate passes bill

The North Dakota Senate has passed a bill regulating cryptocurrency ATMs, setting a daily transaction limit of $2,000 per user.

This move aims to protect residents from scams by introducing stricter guidelines for crypto ATM operators.

The bill, House Bill 1447, was passed with a significant majority of 45 to 1 on March 18, 2025.

The legislation requires crypto ATM operators to obtain a state license as money transmitters, limits daily withdrawals to $2,000 across their network, and mandates the posting of fraud warning notices.

Initially, the House had proposed a $1,000 daily limit, which was later adjusted to $2,000 for the first five transactions within a 30-day period 

However, the Senate has now standardized the limit at $2,000 per day.

The bill also obligates operators to use blockchain analytics to detect and report suspicious activities to authorities.

Additionally, they must provide quarterly reports detailing kiosk locations, names, and transaction data.

This legislation is part of broader efforts to combat cryptocurrency fraud, which has seen significant increases in recent years, with fraud losses at Bitcoin (CRYPTO:BTC) ATMs rising nearly tenfold from 2020 to 2023.

The bill will now return to the House for approval of the amendments before it can be signed into law by Governor Kelly Armstrong.

This move reflects North Dakota's efforts to balance the facilitation of cryptocurrency use with the mitigation of associated risks.

As House Representative Steve Swiontek noted during a committee hearing, the lack of protective measures for crypto ATMs has enabled criminal exploitation.

The passage of this bill marks a significant step in enhancing consumer protections and regulating the crypto ATM industry in North Dakota.