North Carolina Enacts Crypto ATM Law With Fee Caps, Limits and Refund Rights

New requirements for operators

The law, called the Virtual Currency Kiosk Consumer Protection Act, requires operators to display clear fraud warnings on their machines. It also places the industry under the oversight of the Commissioner of Banks and requires kiosk operators to be licensed as money transmitters in order to continue doing business in the state.

The state says the new standards are intended to reduce the risks associated with virtual currency kiosks while preserving access to crypto-related services in North Carolina.

Limits, fees and transaction safeguards

Among the most notable provisions is a $2,000 daily transaction cap for new customers. The law also limits fees to 12% of the value of a transaction.

In addition to those financial limits, the measure requires live customer service and receipts for transactions. Governor Josh Stein said the legislation also provides users with the ability to cancel a transaction while it is still in progress.

Refund rights for scam victims

The act gives scam victims a route to seek refunds, allowing them to receive refunds within 30 days of reporting an incident. The law frames that protection as part of a broader effort to address fraud involving crypto kiosks, which officials say has cost North Carolina residents millions of dollars.

The focus on refunds and warnings reflects growing concern around the role of crypto ATMs in scams targeting everyday users. State officials have presented the law as a consumer protection response rather than a ban on the machines themselves.

Governor cites rising sophistication of scams

Stein said the legislation was needed because fraud schemes have evolved alongside changes in technology. In a statement, he said laws must keep pace as scammers become more sophisticated, and pointed to the bill’s licensing and regulatory requirements, transaction limits, scam alert signage, customer service, receipts and in-progress cancellation feature as key protections.

The law now sets the compliance standard for kiosk operators in North Carolina. Businesses that want to keep operating in the state will need to follow the new rules.

The measure arrives as scrutiny of crypto ATM scams continues to grow, with policymakers focusing on how to curb losses without fully cutting off access to virtual currency services. In North Carolina, lawmakers and the governor have now chosen a regulatory approach centered on licensing, disclosure, limits and consumer remedies.