New Hampshire Caps Crypto ATM Transactions at $2,000
A new state law takes effect Dec. 16, capping daily crypto kiosk withdrawals at $2,000 and requiring 48-hour holds on first transactions to combat fraud.
New Hampshire will cap cryptocurrency kiosk transactions at $2,000 per customer per day starting Dec. 16. This limit aims to reduce losses from remote access scams that target elderly residents.
The state also mandates a 48-hour hold on a customer's first transaction at any given kiosk. This window allows victims to cancel the transfer and recover their funds before the assets are moved to illicit wallets.
Kiosk operators face strict new compliance rules
Operators must use blockchain analytics to screen wallet addresses for links to theft or sanctions. They must also maintain a dedicated line for law enforcement communication.
Kiosks are required to display fraud warnings and ask screening questions. If a customer indicates that another person is coaching the transaction, the machine must block the process.
Scammers exploit urgency and isolation tactics
Ken Heideman of Nashua lost $30,000 to a scammer posing as Microsoft support. The fraudster kept him on the phone for hours, demanding secrecy to prevent bank alerts.
Heideman eventually broke the spell and reported the incident to police. His cybercrime insurance and documentation allowed him to recover most of the lost funds.
Officials warn against crypto payment demands
Manchester Police Chief Peter Marr stated that scammers design these schemes to rush victims. The new transaction limits provide authorities more time to intervene before funds disappear.
No legitimate law enforcement agency demands payment via cryptocurrency ATM, Marr emphasized. The new safeguards in Senate Bill 482 are intended to disrupt this specific financial crime vector.
