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Bill

Bill

S 2141

Prohibits cryptocurrency automatic teller machines.

2026-2027 Regular Session Introduced by Joe Cryan and 7 co-sponsors

New Jersey bill prohibits cryptocurrency ATM operations statewide to reduce fraud and money laundering risks, though critics cite consumer freedom concerns.

Received in the Assembly, Referred to Assembly Science, Innovation and Technology Committee
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WeVote Research Nonpartisan
Bill Summary · S 2141

Legislative bill overview

S 2141 would prohibit the operation of cryptocurrency automated teller machines (ATMs) in New Jersey. The bill represents a regulatory approach to restricting access points where residents can convert fiat currency to cryptocurrency and vice versa. This would make New Jersey one of the few states to implement such a comprehensive ban on crypto ATM operations.

Why is this important

Cryptocurrency ATMs have grown in prevalence as convenient conversion points, but they've been flagged by law enforcement and consumer protection agencies as potential vectors for money laundering, fraud, and scams targeting vulnerable populations. The bill addresses concerns about unregulated financial activity and consumer risk, though it represents a significant restriction on financial access and market participation that many view as paternalistic.

Potential points of contention

  • Consumer freedom vs. protection: Opponents will argue the ban restricts adults' right to voluntarily participate in legal cryptocurrency markets, while supporters counter that ATMs specifically enable fraud and money laundering more than regulated exchanges
  • Effectiveness and enforcement: Questions exist about whether banning ATMs meaningfully reduces illicit activity when online exchanges remain accessible, and how New Jersey would enforce this against out-of-state or mobile operations
  • Economic impact on businesses: Convenience stores, laundromats, and other venues hosting these machines would lose revenue streams, raising concerns about regulatory overreach versus legitimate business interests

Compiled from official sources — confirm details with the bill’s official record.

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