Crypto ATM Fraud Prevention Act of 2025

Summary

Requires virtual currency kiosk (crypto ATM) operators to register kiosk locations and identify themselves to the Treasury, implement identity-verification and transaction-monitoring controls, keep records and submit periodic reports to FinCEN, and follow model compliance standards and subsequent regulations. Establishes definitions (including a 14-day “new customer” window), gives FinCEN rulemaking and enforcement authority, and creates civil penalties and administrative enforcement procedures for noncompliance. All changes take effect 90 days after enactment.

• Virtual currency kiosk operators must register and regularly report physical kiosk locations and associated virtual currency addresses to Treasury/FinCEN.
• Operators must implement identity verification (KYC) and transaction-monitoring systems, with special treatment for "new customers" during a 14-day window after first transaction.
• FinCEN must issue model compliance standards and is directed to complete any required regulations within statutory timeframes.
• Operators must retain records and submit periodic reports to FinCEN; false or materially incomplete filings are actionable as noncompliance.
• The law creates civil penalties, an administrative enforcement process, and provides for civil actions to enforce requirements.
• All amendments become effective 90 days after enactment; registration/reporting timing in the bill means the first submissions will follow that effective-date schedule.
• The bill creates a new standalone statutory section expanding chapter 53 to cover virtual currency kiosks and related oversight obligations.
• Operational impacts include increased compliance costs, data-handling responsibilities, and potential privacy and security concerns for kiosk operators and their customers.