House Advances New Bill to Combat Cryptocurrency Scams

In a significant move aimed at cryptocurrencies, New Hampshire lawmakers diverged from their own House Committee on Commerce and Consumer Affairs on April 23, 2026, passing a bill designed to curb rampant cryptocurrency scams in the state. This unexpected turn underscores the growing concern over how digital currencies can be misused, notably through cryptocurrency kiosks.

Background of Senate Bill 482

The bill in question, known as Senate Bill 482, was championed by Merrimack Republican Sen. Tim McGough. It emerged from debates highlighting the vulnerabilities of consumer transactions involving cryptocurrency. A staggering number of residents have reported losing their life savings due to scams tied to crypto kiosks, machines enabling users to purchase nearly untraceable digital currencies using cash.

This alarming trend has attracted the attention of lawmakers and law enforcement, indicating the urgency of the matter. A victim’s account shared in a recent hearing accentuated the gravity of these scams, indicating that the issue is not just regulatory, but deeply personal for many.

Bill Provisions and Controversy

Senate Bill 482 calls for various protective measures, including an indefinite transaction limit of $2,000 per day for customers using these kiosks and mandates a two-week refund period for transactions. However, proposed amendments to the bill put forth by Rep. Keith Ammon, a New Boston Republican, stirred significant debate. Ammon’s version suggested capping initial transactions for new customers at $3,000 but did not propose a permanent limit. Furthermore, his amendments included stipulations that could potentially restrict municipalities from imposing stricter local regulations and offered some legal protections to kiosk operators.

Critics of Ammon’s amendments argued that they would effectively shield the kiosk industry at the expense of New Hampshire residents, making it easier for scammers to operate unimpeded. This sparked a heated debate, with lawmakers asserting that the responsibility of consumer safety should trump any industry reassurance.

The Legislative Debate

During the House floor discussions, Republican representative Nicholas Bridle from Hampton lamented that over $2.6 million had been lost in crypto ATM scams reported by local residents. These figures contributed to his vehement opposition against Ammon’s amendments. Bridle characterized the proposed measures as making kiosk operators ‘untouchable,’ exacerbating the attractiveness of the state to criminals and scammers.

In contrast, Ammon countered that the figures presented by the opposition were inflated, dismissing concerns over privacy as unfounded. He expressed his stance on industry accountability, arguing that banning these kiosks outright would not only eliminate a burgeoning market but also push transactions into uncontrolled, unregulated space.

The fate of the amendment was ultimately sealed when a vote led to its rejection with 220 votes against it, demonstrating a significant division among lawmakers.

Next Steps for SB 482

Having passed the House, Senate Bill 482 is set to head to the House Committee on Criminal Justice and Public Safety. This next step will be crucial in determining the final shape and provisions of the bill as lawmakers continue to grapple with finding a balance between consumer protection and industry interest.

Overall, the discussions surrounding SB 482 reveal a broader conundrum faced by lawmakers across the United States: How to effectively regulate an emerging, often opaque industry while ensuring that consumers are protected from exploitation. As the legislation progresses, it remains to be seen how these issues will influence not only New Hampshire’s approach to cryptocurrencies but also set a precedent for other states dealing with similar challenges.