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A newly proposed bill in the North Dakota Legislature would limit crypto transactions and put in place new regulations supporters say would help prevent scams and fraud.
House Bill 1440 would cap daily withdrawals at $1,000 per day, and require machines to issue fraud alerts. State Financial Institutions Commissioner Lisa Kruse testified that North Dakotans lost a combined $6.5 million to cypto fraud in 2023.
Currently, there are few law regulating crypto currency transactions in the state or nationally. There are millions of different crypto coins now, with the most well known being Bitcoin.
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