Grosse Pointe Farms, a Michigan town currently without crypto ATMs, has proactively passed an ordinance to regulate them, aiming to prevent scams. The unanimous decision, spurred by a local resident being scammed elsewhere, makes it likely the first Michigan municipality to do so. The new rules require ATM registration, business licenses, mandatory fraud warnings, and transaction limits ($1,000 daily, $5,000 aggregate) for new users during their first two weeks.
Michigan Town Curbs Crypto ATMs
