Texas lawmaker proposes crypto ATMs in federal buildings

A Texas Republican is proposing the installation of cryptocurrency ATMs in federal buildings to bring digital assets closer to the American public.

Representative Lance Gooden, a Republican representing Texas’ 5th congressional district, asked Stephen Ehikian, the acting administrator of the General Services Administration (GSA), to look into putting the automated teller machines into those facilities as a “signal to the public that the government is embracing innovation securely and responsibly.  

The proposal comes as former President Donald Trump ramps up his support for cryptocurrencies and meme coins. According to its website, the GSA already hosts some traditional ATMs in a few of its facilities.

Rep. Gooden said: “Expanding accessibility to crypto ATMs within federal buildings aligns with President Trump’s vision of positioning the United States as a global leader in cryptocurrency and blockchain technology.”

Gooden pushes crypto ATMs despite rising fraud concerns and global crackdowns

Gooden described crypto as “an integral part of the global financial system” and proposed using ATMs in federal buildings to support the financial needs of a “diverse and growing consumer base.”

However, his proposal comes as crypto ATMs face increased scrutiny because of concerns about rising fraud. More than 10,900 complaints about crypto ATMs were filed in 2024 with the FBI’s Internet Crime Complaint Center (IC3). According to the agency, this was a 99% hike from the year before. Victims reported losing $246.7 million; seniors alone accounted for more than $107 million.

The FBI cited an array of scams that use these machines, including tech-support fraud, government impersonation, phony investments, and extortion. Scammers often direct victims to crypto ATMs due to the ease of anonymity, irreversibility of transactions, and lack of human oversight.

Several countries have already taken action. The UK has outright forbidden crypto ATMs, while France, Australia, and Germany are targeting unregistered operators. In the United States, local and state-level measures are gaining momentum, with one Minnesota town banning the machines and Nebraska recently passing a law capping ATM fees at 18% and limiting daily transactions.

On the federal front, Democratic lawmakers have proposed the Crypto ATM Fraud Prevention Act, which would enforce fraud warnings, FinCEN registered anti-fraud protocols, limits on the number of transactions executed by new users, and require refunds in reported scams.

While acknowledging the risks, Gooden emphasized that the initiative should require close collaboration with regulators, industry experts, and technology providers to ensure adherence to anti-money laundering and other relevant standards. He framed the proposal as an opportunity to expand accessibility and boost public awareness of digital finance.

“By embracing this initiative, we can take a significant step toward realizing [Trump’s] vision and solidifying our nation’s status as a superpower in the digital financial landscape,” he concluded.

U.S. leads global Bitcoin ATM growth as Trump allies push for federal integration

Last year, the global network of Bitcoin ATMs expanded significantly, with 2,217 new machines installed, a 6.02% year-over-year increase, bringing the total to 38,768 by January 1, 2025.

This is according to research by Finbold, which also showed that the U.S. maintained its dominance while Europe continued to gain a growing share amid market downturns.

The United States was home to the largest market for Bitcoin ATMs, hosting 81.27% of the world’s total BTM population as of 31 December. The country, which ended 2024 with 30,411 ATMs, added a further 1,094 units, reflecting a number of ongoing rallies to retain its dominance.

It’s not clear whether Ehikian, an appointee of Trump’s, has the authority to install cryptocurrency ATMs in federal buildings, even with presidential support, without congressional approval for funding.

Trump has significant exposure to cryptocurrencies and digital asset firms through his personal holdings, presidential campaign funds, family-backed businesses, and the TRUMP meme coin. In April, the president announced a dinner in DC for top holders of his meme coin.

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