Minnesota has introduced Bill HF3642, which proposes to ban the placement or operation of any cryptocurrency self-service terminals (crypto ATMs) in the state, while simultaneously repealing all current regulations from sections 53B.69 to 53B.75 regarding virtual currency kiosks. The existing laws originally mandated risk disclosures, a daily transaction limit of $2,000, a 72-hour rule for new customers, and a refund mechanism. If the bill passes, it will be changed to a direct and comprehensive ban on the operation of related devices.
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Minnesota has introduced Bill HF3642, which proposes to ban the placement or operation of any cryptocurrency self-service terminals (crypto ATMs) in the state, while simultaneously repealing all current regulations from sections 53B.69 to 53B.75 regarding virtual currency kiosks. The existing laws originally mandated risk disclosures, a daily transaction limit of $2,000, a 72-hour rule for new customers, and a refund mechanism. If the bill passes, it will be changed to a direct and comprehensive ban on the operation of related devices.