As of today, Arizona’s new Cryptocurrency Kiosk License Fraud Prevention law will go into effect, increasing protections for Arizona seniors at risk of cryptocurrency ATM scams. The law will lower daily transaction minimums, increase warnings on the ATM, require transaction receipts, and ATM operators to issue refunds to victims of fraud.

“I’m glad we can implement commonsense protections to prevent even more Arizonans from becoming victims of cryptocurrency ATM fraud,” said Attorney General Mayes. “Last year, Arizonans lost an astounding $177 million in their hard-earned savings to cryptocurrency scammers. This is a good first step, but we need to do even more to protect Arizona seniors from these persistent criminals.”