Nebraska leaders have signed the Controllable Electronic Record Fraud Prevention Act into law to protect residents from fraudulent crypto kiosks and ATMs. The law aims to bring transparency to crypto machines found in gas stations and corner stores by requiring users to provide personal information and pay additional fees. Compliance officers will oversee these machines to ensure clear warnings are provided to consumers. Congressman Mike Flood believes this law will help eliminate scammers and protect consumers. However, crypto expert Dr. Jane Liu believes more regulation is needed to encourage market participation and development. Banking director Kelly Lamers welcomes legal businesses in the crypto space but warns that those exploiting citizens will be under scrutiny. The law will be in effect in September to balance Nebraska as a crypto leader while protecting citizens from fraud.
