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Tennessee bans all crypto ATMs nationwide, crackdown on scams and regulatory upgrades
ME News Report, April 25 (UTC+8), Tennessee Governor Bill Lee has signed a bill banning the operation of cryptocurrency ATMs statewide, becoming the second state after Indiana to implement a comprehensive ban. The bill (HB 2505) has officially taken effect and will be enforced starting July 1. According to regulations, installing or operating a “virtual currency self-service terminal” (i.e., Bitcoin ATM) will be considered a Class A misdemeanor, with a maximum penalty of one year in jail and a $2,500 fine. Additionally, merchants allowing devices on their premises will also bear legal responsibility. Currently, most U.S. states have strengthened regulation through licensing systems and transaction limits, but comprehensive bans remain rare. Data shows that since 2026, 30 states have proposed related legislation, with 20 states passing laws, indicating a continued tightening of regulations against crypto ATM scams. (Source: ODAILY)