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Key Takeaways:
Transaction Limit of $2,000 Per Day—The bill caps daily transactions at crypto ATMs, restricting users from exceeding $2,000 in purchases or withdrawals within 24 hours.
Regulatory Oversight and Compliance – The legislation aims to enhance regulatory oversight of crypto ATMs, likely introducing stricter compliance measures to prevent fraud, money laundering, and illicit transactions.
Potential Impact on Crypto Adoption – While the bill could increase security and consumer protection, the transaction limit might also restrict the usability of crypto ATMs for more prominent investors or businesses relying on these machines for liquidity.
The North Dakota Senate has passed a bill imposing restrictions on cryptocurrency automated teller machines (ATMs), limiting daily transactions to $2,000.
Overview
On March 18 2025, the state’s Senate passed House Bill 1447 in a 45-to-1 vote. The bill was introduced to the state’s legislative assembly in January 2025 to protect residents from scammers. The legislation, aimed at increasing oversight and preventing potential financial risks, has sparked debates among lawmakers, crypto advocates, and industry stakeholders.
The bill passed with a significant majority and is part of broader regulatory efforts to introduce safeguards against illicit activities such as money laundering and fraud. Supporters of the measure argue that imposing limits on daily transactions will help protect consumers from scams while ensuring compliance with federal and state financial regulations. However, critics say that the bill could hinder the growth of crypto adoption in the state, making North Dakota less attractive to crypto businesses and investors.
Industry Reaction and Potential Impact
The bill’s passing has drawn mixed reactions from crypto industry players. Some crypto ATM operators have expressed concerns over the potential decline in transaction volumes and revenue, as users who rely on these machines for buying or selling digital assets may find the restrictions limiting. The new cap could mean adjusting trading strategies for businesses and individuals engaged in crypto transactions.
Many users prefer cash-based transactions through ATMs for privacy reasons, and the limitation could push them toward other methods, such as online exchanges, which may not offer the same level of accessibility. Despite these concerns, proponents of the bill argue that the restrictions are necessary to prevent bad actors from exploiting crypto ATMs for illegal activities. By imposing a $2,000 daily limit, North Dakota lawmakers believe they can balance allowing crypto transactions and maintaining financial security.
Future of Crypto Regulations in North Dakota
With the passage of this bill, North Dakota joins other states that have taken steps to regulate crypto transactions more stringently. The move aligns with broader national efforts to enhance oversight in the crypto industry, particularly as regulatory bodies like the Securities and Exchange Commission (SEC) and the Financial Crimes Enforcement Network (FinCEN) continue to push for stricter compliance measures.
As the bill moves forward for final approval and potential implementation, industry stakeholders will be watching closely to see how these regulations impact the crypto ecosystem in the state. The new law could serve as a precedent for other states considering similar measures, shaping the regulatory landscape for crypto ATMs across the United States.
For now, North Dakota’s approach underscores the ongoing struggle between promoting financial innovation and ensuring regulatory compliance. As the cryptocurrency industry evolves, further discussions on balancing accessibility and security will be crucial in shaping the future of digital asset transactions.