House Committee Weakens Crypto ATM Protections, Cutting Refund Window to 3 Days and Raising Transaction Limit

**TL;DR** The House Commerce and Consumer Affairs Committee approved a rewrite of SB 482 that gives new crypto‑ATM users only three days to request a refund and allows them to withdraw up to $3,000 in cash, while the Senate version offered 14 days and a $2,000 cap for all users.

**Context** Crypto ATMs let customers exchange cash for digital tokens in locations such as supermarkets and gas stations. Scammers exploit the machines because transactions are fast, hard to trace, and often irreversible. Two dozen states have already placed limits on the industry to curb fraud targeting seniors.

**Key Facts** - Committee Chair Keith Ammon (R‑New Boston) said the bill “balances free market growth with appropriate guardrails.” - Under the Senate bill, scam victims have 14 days to obtain a refund; the House version limits new customers to 72 hours. - The Senate caps all cash transactions at $2,000; the House raises the limit to $3,000 but only for new users. - The House amendment also blocks local ordinances with stronger protections and grants operators safe‑harbor immunity unless the Attorney General pursues enforcement.

**What It Means** The changes reduce consumer recourse and increase the amount of cash that can be moved through a single kiosk, potentially making the machines more attractive to fraudsters. Market data shows Bitcoin (BTC) trading at $27,300, up 2.1% on the day, with a market capitalization of roughly $530 billion. Bitcoin Depot (BTM), the largest publicly traded crypto‑ATM operator, rose 1.8% to $12.45, giving it a market cap of about $1.2 billion. Operators may see higher transaction volumes, while consumer advocates warn of heightened risk for inexperienced users.

Watch for the full House debate and a possible House‑Senate conference committee to reconcile the differing versions.