Delaware and New Jersey both advanced statewide bills this week to ban cryptocurrency ATMs, citing fraud that’s disproportionately hurt older residents. Delaware's House Bill 441 cleared the House Economic Development Committee on Monday, signaling serious momentum. The moves put pressure on a sector long criticized for enabling scams.
Delaware Bill Clears Committee
House Bill 441 got unanimous committee approval Monday. It now heads to the full House for debate. The bill explicitly targets crypto ATMs over safety concerns. Lawmakers flagged how often seniors lose savings through these machines. No amendments were offered during the session. This is the furthest any state bill has progressed this year.
New Jersey Joins the Push
New Jersey legislators moved a similar bill through preliminary channels this week. It mirrors Delaware’s focus on fraud risks to vulnerable residents. The state hasn’t scheduled a public hearing yet. But sponsors confirmed the bill’s language directly references scam losses affecting older adults. They’re pushing for swift committee action.
Elder Fraud Drives Action
Both states point to scam losses that hit older residents hardest. Law enforcement reports show seniors routinely lose thousands through crypto ATM transactions. Many victims thought they were paying for utilities or government fees. The machines’ ease of use makes them ripe for exploitation. This isn’t a new problem, but it’s the first time both states are acting in lockstep.
Delaware’s bill could reach the governor’s desk by late July. New Jersey’s timeline remains unclear pending committee review. The crypto ATM industry says it’s improving verification steps, but states remain unconvinced.
