Nikolas Sargeant
Nebraska Governor Jim Pillen announced that the state is “open for business” in the cryptocurrency space, signaling Nebraska's growing commitment to becoming a leader in the industry. In a post on X (formerly Twitter), Pillen highlighted the state's efforts to build a crypto-friendly environment, stressing that Nebraska is focusing on doing it the right way. Governor Pillen’s statement aligns with the state’s ongoing efforts to regulate and foster crypto businesses while maintaining transparency and security for its residents.
Cryptocurrency is an emerging industry, and we’ve been working hard to build Nebraska into a crypto leader. We want everyone to know that we’re open for business – and that we’re doing it the right way. @NebraskaDBF @TeamPillen https://t.co/2b0YtzG8xL
— Governor Jim Pillen (@TeamPillen) March 12, 2025
To further these goals, Governor Pillen signed Bill LB609 into law, which introduces the “Controllable Electronic Record Fraud Prevention Act.” The bill aims to protect Nebraska residents from crypto-related fraud, specifically targeting crypto ATMs and kiosks, which have been used in fraudulent schemes. Nebraska Department of Banking Director Kelly Lammers emphasized that the state is creating a dedicated team to ensure compliance and protect legitimate businesses and consumers. The state’s proactive approach includes stronger safeguards against crypto fraud, ensuring that businesses in the sector operate securely.
This legislation comes in response to rising concerns over crypto ATM fraud, particularly in Nebraska. In 2023, the FBI received 239 complaints from state residents related to crypto theft, with reported losses totaling over $14.5 million. These figures align with a broader national trend, as crypto ATM fraud complaints continue to rise. The Federal Trade Commission (FTC) reported that consumers lost $114 million to crypto ATM fraud in 2023, with the figure increasing to over $65 million in the first half of 2024 alone.
In a broader global context, despite Bitcoin’s record-breaking performance in 2023, the number of Bitcoin ATMs worldwide has seen a notable decline. As cryptocurrency adoption surged, particularly with Bitcoin achieving new highs, the availability of cryptocurrency kiosks offering cash or debit card purchases has dropped. The global ATM decline underscores the importance of maintaining secure, well-regulated crypto access points, a concern Nebraska is addressing with its new legislation.
Governor Pillen’s move reflects broader national efforts to address crypto ATM fraud. Lawmakers across the U.S., including Illinois Senator Dick Durbin, are pushing for stricter regulations on crypto kiosks to prevent illegal activities and protect vulnerable citizens, especially seniors. Nebraska’s new legislation aims to provide a secure and well-regulated environment for crypto innovation, offering a model for other states seeking to balance industry growth with consumer protection.
