Texas Lawmaker Urges US Government to Put Crypto ATMs in Federal Buildings
Rep. Lance Gooden (R-Texas) proposed installing cryptocurrency ATMs in federal buildings to enhance access to digital currency for Americans. He urged the General Services Administration to adopt this infrastructure, calling crypto an essential part of the global financial system. Gooden's initiative aligns with former President Trump's vision for U.S. leadership in blockchain innovation. However, the FBI reported nearly 11,000 complaints related to crypto ATMs in 2024, with losses of $246.7 million, particularly affecting seniors. Fraud schemes linked to these ATMs include extortion and investment scams. Other countries, like the UK, have banned crypto ATMs, while some U.S. jurisdictions are imposing restrictions. A group of Democratic senators is advocating for a federal Crypto ATM Fraud Prevention Act to implement safeguards against fraud. Gooden acknowledged the need for regulatory collaboration but emphasized the potential benefits of increased accessibility and public education on cryptocurrency.
