Lawmakers in California have proposed a new bill called the "Digital Financial Asset Trading Post" which calls for a daily limit of $1,000 on cryptocurrency ATM withdrawals due to increasing fraud. Additionally, starting in 2025, the law will limit operator fees to $5 or 15% (whichever is higher). If approved, the bill will take effect on January 1, 2024. According to data from Coin ATM Radar, there are over 3,200 Bitcoin ATMs in California.
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California bill proposes capping crypto ATM withdrawals at $1,000 per day to combat scams
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