New Jersey bill to ban crypto ATMs advances to full Senate

The New Jersey Senate Commerce Committee has unanimously passed a bill to ban the operation of cryptocurrency ATMs, advancing it to the full Senate floor, a media outlet reported. The bill prohibits the ownership, installation, operation, and sale of crypto ATMs and imposes a fine of up to $10,000 for violations. Lawmakers cited the increasing use of these machines in fraudulent activities as the reason for the measure. Delaware's House of Representatives has also passed a similar bill, while Indiana, Tennessee, and Minnesota have already implemented such bans.