California has introduced a new law to combat scammers involved in Bitcoin ATM transactions. The law aims to protect consumers and ensure the integrity of the cryptocurrency market.
Under the new legislation, Bitcoin ATMs will be required to adhere to strict guidelines. This includes maintaining detailed records of transactions and verifying the identity of users. Scammers who exploit these machines to defraud individuals will face severe penalties.
This move comes as a response to the increasing number of complaints about Bitcoin ATM scams in the state. Consumers have reported losing significant amounts of money to fraudulent activities.
Experts believe that the new law will help restore trust in the cryptocurrency market. It will also serve as a deterrent for scammers looking to take advantage of unsuspecting individuals. |
