Investigative Lt. Scott Goldberg emphasizes that these regulations are designed to enhance financial safety for the community.

Wisconsin lawmakers are introducing new regulations targeting Bitcoin Treasury Machines (BTMs) to improve consumer protection and combat cryptocurrency scams.

The proposed legislation will restrict BTMs by limiting transaction amounts to $1,000 per day and capping fees, while also requiring warning signs to alert users about potential scams.

Importantly, the legislation mandates that cryptocurrency companies must refund users who fall victim to scams, especially those involving fraudulent activities at BTMs.

Further developments on the legislation are anticipated in the fall of 2025, as lawmakers continue to refine these protections.

Many scams involve impersonation by scammers pretending to be law enforcement or banking officials to trick individuals into transferring cryptocurrency to fraudulent wallets.

Local victims, including one who lost $40,000, have been affected by Bitcoin fraud, highlighting the need for stricter regulations.

Senator Kelda Roys, who introduced the bill, underscores the importance of protecting citizens from losing their life savings to cryptocurrency scams.