California to Regulate Bitcoin ATMs Under State Law
The city of Chico, California is seeking support from state and local laws to better regulate Bitcoin ATMs. During a local government committee discussion on August 7th, Butte County Chief Administrative Officer Andy Pickett discussed the ongoing regulation of Bitcoin. Pickett reported on recent state-level legislation aimed at limiting fraud cases related to Bitcoin ATMs. In October 2023, an investigation by California's legislative body found that some cryptocurrency ATMs charge premiums as high as 33%, with some ATMs having limits of up to $50,000. Therefore, a bill was passed to limit deposits to $1,000 per day. Additionally, California requires all cryptocurrency ATM transfers to provide receipts and disclose the operator's name.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
xAI says ‘rogue employee’ responsible for white genocide Grok posts
Share link:In this post: xAI has issued a statement blaming a “rogue employee” for white genocide posts on its AI chatbot Grok. The company mentioned that an unnamed employee made an unauthorized modification to the system prompt. Users on X disagree with the statement, lining up to take jabs at Elon Musk.
US credit downgrade by Moody’s has Wall Street on edge over national debt
Share link:In this post: Moody’s downgraded the US credit rating due to rising debt and weak deficit control. The “Big Beautiful Bill” could add up to $5.2 trillion to the national debt if passed. Investors are worried about higher borrowing costs and a possible cash crunch by August.
Is Bitcoin (BTC) Climb Past $105K Just the Start of a Bigger Bull Run?
Fartcoin Price Surged by 11%, Targeting $2 Mark
Trending news
MoreCrypto prices
More
