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Crypto ATM Fraud Prevention Act of 2025

3/21/2025, 1:44 PM

Summary of Bill S 710

Bill 119 s 710, also known as the "Preventing Fraudulent Transactions at Virtual Currency Kiosks Act," aims to make changes to title 31 of the United States Code in order to address fraudulent transactions that occur at virtual currency kiosks.

The bill seeks to prevent individuals from using virtual currency kiosks to engage in illegal activities such as money laundering, terrorist financing, and other forms of fraud. It also aims to enhance the security measures in place at these kiosks to protect consumers and prevent them from falling victim to scams.

If passed, the bill would require virtual currency kiosk operators to implement certain safeguards, such as verifying the identity of individuals conducting transactions and reporting suspicious activity to the appropriate authorities. It would also give law enforcement agencies more tools to investigate and prosecute individuals who use virtual currency kiosks for illicit purposes. Overall, the goal of Bill 119 s 710 is to ensure that virtual currency kiosks are not used as a tool for criminal activity and to protect consumers from falling victim to fraudulent transactions.

Current Status of Bill S 710

Bill S 710 is currently in the status of Bill Introduced since February 25, 2025. Bill S 710 was introduced during Congress 119 and was introduced to the Senate on February 25, 2025.  Bill S 710's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S1347-1348; text: CR S1348-1350) as of February 25, 2025

Bipartisan Support of Bill S 710

Total Number of Sponsors
4
Democrat Sponsors
4
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 710

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 710

Crypto ATM Fraud Prevention Act of 2025
Crypto ATM Fraud Prevention Act of 2025
A bill to amend title 31, United States Code, to prevent fraudulent transactions at virtual currency kiosks, and for other purposes.

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