California is capping crypto ATM transactions and fees along with creating new licensing requirements for digital financial asset businesses.

New California law limits cash to crypto at ATM machines at $1000 per day per person and also the fees that can be imposed by the machines.

The industry says this will hurt the business, hinting that they’re profiting from the lack of KYC policies

I don’t see any legitimate use from those machines. Who would have a legit need to exchange $15k from cash to crypto at 33% fees???

  • jetAEnglish
    26·
    1 year ago

    They’re not exploiting the ATMs. The ATMs are working as designed.