The Brief
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The Wisconsin Assembly passed a bill that aims to rein in cryptocurrency scams.
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The bill sets a daily transaction limit of $1,000 per person.
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The Wisconsin Senate will vote on the bill next.
MILWAUKEE – The Wisconsin Assembly passed a bill that aims to rein in cryptocurrency scams, creating new consumer protections around kiosks that can be found at gas stations and convenience stores.
What they’re saying
Criminals are known to trick victims into depositing money into the kiosks under the guise of protecting their money or paying a fine. Once the money is sent, it’s almost impossible to get back.
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The amended bill that passed Thursday sets a daily transaction limit of $1,000 per person. AARP Wisconsin said the bill protects against large-scale losses.
“We know these are essentially major scam machines, and while they look like a regular bank ATM, they are not,” said AARP’s Erin Fabrizius. “People are being directed there under duress.”
What’s next
The bill now heads to the Wisconsin Senate.
The Source
FOX6 News reviewed the bill and referenced information from AARP Wisconsin.