{"id":135091,"date":"2024-08-07T22:00:51","date_gmt":"2024-08-07T19:00:51","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135091"},"modified":"2024-08-07T15:48:27","modified_gmt":"2024-08-07T12:48:27","slug":"california-city-seeks-bitcoin-atms-regulation","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/california-city-seeks-bitcoin-atms-regulation\/","title":{"rendered":"California City Seeks Bitcoin ATMs Regulation"},"content":{"rendered":"<p>The City of Chico, California, is looking to a combination of state legislation and local ordinances to improve regulation of Bitcoin ATMs.<\/p>\n<p>During a <a href=\"https:\/\/chico.ca.us\/documents\/Government\/Other-Local-Committees\/2024-08-07-Local-Government-Committee-Agenda.pdf\" target=\"_blank\" rel=\"nofollow\"><strong>discussion<\/strong><\/a> held on August 7 by the Local Government Committee, Andy Pickett, Chief Administrative Officer of Butte County, discussed ongoing efforts to regulate Bitcoin ATMs.<\/p>\n<p>Pickett highlighted recent state legislation aimed at curbing fraud related to Bitcoin ATMs.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/senators-propose-bill-to-enhance-secret-services-role-in-digital-asset-crimes\/\" title=\"Senators Propose Bill to Enhance Secret Service\u2019s Role in Digital Asset Crimes\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/congressman-introduces-crypto-bill-for-2020-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">Senators Propose Bill to Enhance Secret Service\u2019s Role in Digital Asset Crimes<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>An investigation conducted by California in October 2023 revealed that some crypto ATMs were charging premiums as high as 33%, with some machines allowing transactions worth up to $50,000. Consequently, a bill was passed to limit daily deposits to $1,000 and require disclosure of receipts and operator names for all crypto ATM transactions.<\/p>\n<p>Pickett noted:<\/p>\n<p><em>The significant impact will come from the bill, effective July 2025, which will regulate Bitcoin ATMs in a manner similar to banks.<\/em><\/p>\n<p>He also stressed the need for local regulation of <a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/bitcoin\/\"><strong>Bitcoin<\/strong><\/a> ATMs, mentioning that \u201c<em>each jurisdiction will need to enact its own ordinance to regulate these machines, and such ordinances will likely face legal challenges<\/em>.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A city in California is seeking state and local regulations to govern Bitcoin ATMs in order to reduce fraud and increase transparency.<\/p>\n","protected":false},"author":3,"featured_media":31526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[25],"tags":[],"class_list":["post-135091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regulations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - 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