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The second largest city of Washington, Spocuns,, decided to ban all Kripto ATMs for increasing concern for fraud which influenced the locals.
City council voted unanimous for the approval of the prohibitionaccording to a Statement published on June 16.
A new rule not only blocks the installation of new Kripto ATMs, but also requires removal of all existing machines within 60 days. If the operators do not do this, they could lose business permits or face other penalties.
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The city is planning Oversee the fraud reports to determine whether the removal of machines results in fewer cases.
The decision was conducted by a member of the Council Paul Dillon, who said a spokesman-Recenes to use these fraud machines to get people out of their money. The aim of the ban is to protect residents from targeting through these kiosks.
Local police reported that Many frauds include criminals that pretend to be government agents or officers for law enforcement. They assure the victims that they have to transfer money to the KRIPTO ATM to avoid problems or protect their savings.
Detective Tim Schwering explained When the money turns into a cryptocurrency, it often ends in foreign countries. City officials also noticed that These kioski are often found in areas with lower incomesuch as corner stores or small markets.
On June 10, Connecticut has passed a new law for prohibiting all public crypto shares and payments. What does the law includes? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.
