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
Judge continues Nevada ban on Kalshi sports markets
A state judge in Nevada extended a temporary ban on prediction market provider Kalshi's sports-related contracts in the Silver State on Friday.
Judge Jason Woodbury in the First Judicial District Court told attorneys at a hearing in the Carson City courthouse that he would also grant the Nevada
CoinDesk27m ago
The central government launches the "Tianwang 2026" initiative, with multiple departments working together to crack down on underground money remitters moving stolen funds across borders
The Central Coordinating Group for Anti-Corruption recently launched the "Tianwang 2026" campaign, covering four special tasks. The effort aims to pursue fugitives and recover stolen assets, crack down on overseas official-duty crimes, and curb the transfer of stolen funds through offshore companies, while strengthening outbound travel oversight for public officials.
GateNews5h ago
Polymarket removes prediction markets related to the U.S. military Iran rescue operation
Gate News message, April 5, the prediction market platform Polymarket has taken down a betting page related to a U.S. military rescue operation. Local time on Friday, a U.S. F-15E fighter jet was shot down by Iran, one crew member has been rescued, and the other remains missing and falling. The page previously allowed users to bet on which day the U.S. side would confirm that the two pilots had been rescued.
GateNews8h ago
Cambodian lawmakers propose severe prison time for crypto scammers
Cambodia's parliament passed legislation targeting compounds used to defraud victims through scams, including those involving cryptocurrency.
In a Friday notice, the Senate of the Kingdom of Cambodia announced that the chamber had unanimously approved the draft law with no amendment, with 58
Cointelegraph11h ago
Nevada judge extends ban on Kalshi, rejects event contract defense
A Nevada judge has reportedly extended a ban preventing Kalshi from offering event-based contracts in the state, ruling that the products constitute unlicensed gambling under state law.
Judge Jason Woodbury said at a hearing in Carson City on Friday that he will grant a preliminary injunction
Cointelegraph19h ago
