Cryptocurrency kiosk scams, Wisconsin bill targets issue

Cryptocurrency kiosk scams, Wisconsin bill targets issue

The Wisconsin Assembly passed a bill that aims to rein in cryptocurrency scams, creating new consumer protections around kiosks that can be found at gas stations and convenience stores.

MILWAUKEE - The Wisconsin Assembly passed a bill that aims to rein in cryptocurrency scams, creating new consumer protections around kiosks that can be found at gas stations and convenience stores. 

What they're saying:

Criminals are known to trick victims into depositing money into the kiosks under the guise of protecting their money or paying a fine. Once the money is sent, it's almost impossible to get back.

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The amended bill that passed Thursday sets a daily transaction limit of $1,000 per person. AARP Wisconsin said the bill protects against large-scale losses.

"We know these are essentially major scam machines, and while they look like a regular bank ATM, they are not," said AARP's Erin Fabrizius. "People are being directed there under duress."

What's next:

The bill now heads to the Wisconsin Senate.