Residents and crypto casino players in Nebraska will have safer cryptocurrency transactions when using their local crypto ATMs with a new Crypto ATM law. This is thanks to the recent legislation Nebraska Governor Jim Pillen signed.
LB 609, also known as the Controllable Electronic Record Fund Prevention Act, was signed by Gov. Pillen. This was introduced back on January 22, and was signed into law on March 12, 2025.
According to a Federal Trade Commission (FTC) report, fraud losses at BTMs have been skyrocketing from 2020 to 2023. This is why LB 609 was legislated to protect against digital asset fraud, specifically when it comes to crypto ATMs.
What are the Main Proponents of the Crypto ATM Law?
Under LB 609, companies running crypto ATMs must now be licensed under Nebraska’s Money Transmitters Act. Moreover, ATM operators need to get approval from the state’s Department of Banking and Finance before setting up machines.
In addition, operators need to provide quarterly reports on kiosk locations, names and transaction data. Kiosk operators must also display fraud warnings and appoint a compliance officer to enforce fraud prevention measures.
The Crypto ATM Law implements transaction limits for new and existing customers. New customers have a $2000 daily limit, while existing customers have $5000 daily limits. Their fees will also not exceed 18% of their transaction value.
If new customers experience fraud and report it within 90 days, they can receive a full refund along with fees. Meanwhile, existing customers can be refunded for the fees associated with fraudulent transactions.
Governor Pillen cited the importance of cryptocurrency as an emerging industry, and the state is aligning with Trump’s pro-crypto stance. He also stated that local legislators have been working hard to build Nebraska into a cryptocurrency leader,
“An important part of these efforts is to make sure that we have guardrails to prevent criminals from taking advantage of Nebraskans,” Pillen added.
Pillen noted that the local government will continue to cultivate a safe and robust crypto industry in the Cornhusker State.
Kelly Lammers, Director of the Nebraska Department of Banking, echoes Gov. Pillen’s sentiment. Lammers noted that they are also currently working on a team in-charge of monitoring crypto ATMs to protect their residents.