TLDR:
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Rep. Lance Gooden calls for crypto ATMs in U.S. federal buildings.
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Says initiative aligns with Trump’s vision for blockchain leadership.
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FBI data shows fraud via crypto ATMs is surging, especially among seniors.
Pushing for Federal Crypto Infrastructure
Rep. Lance Gooden (R-TX) urged the General Services Administration to install cryptocurrency ATMs in federal buildings, calling it a step toward realizing former President Trump’s vision of U.S. leadership in blockchain innovation. The proposal highlights the growing interest in crypto adoption at the government level.
Crypto ATMs and Rising Fraud
The proposal comes amid rising crypto ATM-related fraud. FBI data from 2024 shows nearly 11,000 complaints and $246.7 million in losses, with seniors losing over $107 million. Scams include extortion, investment fraud, and tech support schemes using these machines as cash-out points.
Other Jurisdictions Take Action
Countries like the UK have banned crypto ATMs outright, while France, Germany, and Australia have moved to regulate or restrict them. Several U.S. states, including Nebraska and Minnesota, have also imposed caps or bans.
Balancing Innovation with Risk
Despite recognizing the risks, Gooden maintained the initiative could improve accessibility and financial literacy. He stressed the need for close collaboration with regulators and technology experts to ensure compliance and fraud mitigation.
