ChainCatcher News: Minnesota Democratic Farmer-Labor Party Representative Erin Koegel recently introduced Bill HF 3642, which aims to ban the placement and operation of cryptocurrency kiosks statewide. The proposal stems from multiple scam reports targeting seniors, some of whom faced severe financial hardship as a result. The Minnesota Department of Commerce expressed “strong support” for the bill and plans to propose broader consumer protection measures in the coming days.
Reportedly, Minnesota currently has about 350 cryptocurrency ATMs operated by 8 to 10 companies. Last year, the state received 70 related complaints, with reported losses totaling $540,000. The bill would repeal the existing regulatory framework established in 2024, including disclosure requirements and transaction limits.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
The UK Financial Conduct Authority launches its first crackdown on illegal peer-to-peer cryptocurrency trading
The FCA’s first wave of enforcement actions, working together with HMRC and the South West Regional Organised Crime Unit, raided multiple London locations suspected of running unregistered P2P cryptocurrency trading venues, issuing stop orders and bringing the matters into a criminal investigation. Experts say such unregistered platforms are illegal and carry high risk, and regulators will strengthen oversight gaps with regulations such as those on anti-money laundering. The UK is gradually building a cryptocurrency regulatory framework, with full implementation expected by 2027; in 2026, a registration application channel will be opened, and investors should carefully assess risks.
ChainNewsAbmedia5h ago
Hyperliquid Launches Policy Center in U.S. to Advance Decentralized Derivatives Regulation
Gate News message, April 22 — Hyperliquid has established the Hyperliquid Policy Center (HPC) in the United States, funded by the Hyper Foundation. The initiative aims to secure legal clarity and protections for U.S. users and developers, with a focus on on-chain perpetual futures contracts.
HPC wi
GateNews7h ago
Major CEX Urges U.S. Congress to Implement Crypto Tax Exemption Threshold and Allow Staking Reward Tax Timing Choice
Major CEX urges Congress to set a minimum tax-exemption for crypto transactions and offer flexible staking-report timing, citing IRS forms show most trades under thresholds and heavy reporting burden.
The article reports that a major centralized exchange is urging U.S. Congress to establish inflation-adjusted minimum exemption thresholds for crypto transactions and to allow taxpayers to choose when to report staking rewards. It cites CoinDesk data showing 56 million crypto tax forms filed for 2025, with most transactions valued under $50, illustrating the administrative burden of current reporting rules and the need for policy changes.
GateNews9h ago
North Carolina Passes Digital Asset Law Allowing Banks to Custody Crypto
Gate News message, April 22 — North Carolina has officially introduced House Bill 1029, the Digital Asset and Stablecoin Act, marking the state's entry into crypto regulation. The bill, developed following recommendations from a dedicated blockchain committee, aims to integrate digital assets into t
GateNews10h ago
UK FCA Conducts Coordinated Raids on Illegal P2P Crypto Trading Sites in London
FCA raids eight London sites tied to unregistered P2P crypto trading, issuing cease-and-desist notices. Evidence points to money-laundering and terror-financing probes; no P2P platform is FCA-registered; enforcement signals a tougher AML crackdown.
Abstract: The FCA, with tax authorities and police, conducted surprise raids at eight London sites linked to unregistered peer-to-peer crypto trading, issuing cease-and-desist notices. The operation underpins ongoing money-laundering and terrorist-financing probes. No P2P platform is FCA-registered in the UK. Analysts view the action as a shift from statements to enforcement, signaling potential broader crackdowns under AML and financial-promotion rules for crypto assets, which remain high-risk investments.
GateNews10h ago
Bank of Korea Prioritizes CBDCs Under New Governor Shin, Maintains 2.5% Rate Amid Regional Uncertainty
Gate News message, April 22 — South Korea's central bank has entered a new monetary phase with newly appointed governor Shin Hyun-song placing central bank digital currencies (CBDCs) at the forefront of the country's financial system. In his inaugural address, Shin positioned CBDCs and bank-issued d
GateNews13h ago
