The CFTC issued an emergency ‘Pause Before You Pay’ directive identifying demands to transfer money through crypto ATMs as a major warning sign of fraud. According to FBI data, Americans’ losses from such schemes surged 58% over the past year, exceeding $388 million. The global crypto ATM market shrank by nearly one-third in July, with 10,836 machines removed, including 10,380 in the United States alone. Several U.S. states have tightened regulations, with Minnesota going as far as to impose a total ban on these terminals. The CFTC reiterates that no legitimate government agency, bank, or major corporation will ever demand payment via a crypto ATM or gift cards.
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