New regulations under local and state laws could soon govern Bitcoin ATMs in California, specifically in the town of Chico, to ensure transparency and reduce fraud.
A California city, Chico, has decided that its Bitcoin ATMs will have new regulatory laws. The Bitcoin ATMs in California will likely see new regulatory rules originating from local and state laws. Meanwhile, the local government committee in the town has published a press release regarding its decision on the Bitcoin ATMs.
The Chief Administrative Officer (CAO) of Butte county also shared details of the decision. He said the state-level crypto regulations already required ATM operators to disclose names and limit deposits. A bill in July 2025 is also going to regulate the use of the ATMs.
Moreover, the press release stated, “Special licensing, business transparency including publicly listing assets & liabilities, auditing, finger printing, public reporting of convictions or bankruptcy, and employment history will all be required of all operators and store owners that have the machines.”
The latest decision, along with other state crypto regulations, stemmed from an earlier investigation in California. It found certain ATMs charging a high commission and having $50,000 as daily limits. At the same time, the CAO mentioned that local administrations might have to pass ordinances in the future.
Chico alone has over 300 such crypto ATMs, which is much more than what certain countries have. The United States is the country with the largest number of such ATMs. The total crypto ATMs globally has risen, with countries like Australia catching up fast.
One of the most significant advantages of crypto ATMs is their ability to bridge the gap between the unbanked and underbanked populations and the world of crypto. They have emerged as pivotal infrastructure in the growing crypto landscape, as a bridge between fiat currencies and crypto.
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