Crypto
Cryptocurrency is emerging as a 2024 election issue
BUFFALO, N.Y. — In the past decade or so, digital cryptocurrency like Bitcoin, has gone from a technological novelty to an industry with a multitrillion-dollar global market.
BronxCrypto Founder Julio Barrios said many people don’t understand the industry so several years ago he started an educational platform.
“I go in and I host classes and seminars, workshops,” Barrios said. “I host free workshops at libraries all over the Bronx.”
He said the industry has been marred by misunderstanding and bad actors that have led to government leaders approaching it cautiously.
“That happens to all technologies,” Barrios said. “In the beginning it’s used by criminals. It’s used by people trying to do illegal things and then all of a sudden when people see the potential of like the blockchain, that’s when people get on board.”
Tech industry coalition Chamber of Progress’ Director of Financial Policy Kyle Bligen said the Biden administration has been generally hostile toward crypto, but Democratic presidential nominee Kamala Harris may be changing that.
“We’ve seen a little bit of a tone shift here in recent reporting saying that her surrogates and her close advisors are actually reaching out to industry, trying to ensure that she has a comprehensive understanding of what cryptocurrency, blockchain technology is and how she can better work with industry in the future,” he said.
Meanwhile, Republican nominee Donald Trump is beginning to make crypto a key component of his campaign. Over the weekend, he spoke at a Bitcoin conference in Nashville, laying out several specific policy plans including creating a strategic reserve similar to what the government has for petroleum.
“The actual mechanics of that, how that would come to fruition and what the benefit would be for the actual marketplace, that still needs to be bore out but that was the first time that I have ever seen someone on the level of a presidential candidate or someone in the administration ever calling for that type of policy,” Bligen said.
Chamber of Progress said while Republicans, by way of Trump, are embracing the industry they hope Democrats will join in creating a bipartisan regulatory plan. U.S. Sen. Kirsten Gillibrand is one of the party’s leaders on the issue.
“If we want to make the market safe for Americans to participate in, we need basic transparency, accountability, know your customer rules, anti-money laundering rules, safety and soundness rules and I’ve written legislation to provide exactly that,” Gillibrand said.
She said regulating crypto and promoting American innovation should not be partisan.
“I think cryptocurrency and blockchain isn’t a top five issue for most New Yorkers or most Americans and so our elected leaders haven’t really had the experts within their staff to give them guidance about what regulation is needed,” Gillibrand said.
Chamber of Progress said polling shows pro-crypto voters may prioritize the issue over others in choosing a candidate. Barrios said there needs to be an all hands-on deck approach.
“America has to see this,” Barrios said. “They have to wake up. We cannot let China control most of this Bitcoin mine.”
The organization said more than 20 million Americans either buy, trade or sell cryptocurrency and reference polling claiming more than 52% of Americans nationwide support the technology.
Crypto
Cryptocurrency fraud costs Okaloosa County resident over $500k
Crypto
Scam Jam: Avoiding Modern Romance & Cryptocurrency Scams | FFXnow
The Fairfax Scam Jam unpacks two of the fastest‑growing threats: romance‑based investment schemes and cryptocurrency fraud. Scammers often initiate contact through friendly wrong‑number texts, dating apps, and social media, then spend weeks or months building trust. Once a relationship feels established, victims are encouraged to “invest” in cryptocurrency, gold, or foreign currency through fraudulent platforms operated by criminal organizations.
You’ll learn how these schemes operate step‑by‑step, the psychological tactics scammers use, and the financial and emotional devastation they leave behind. Presenters will share actionable tools for recognizing early warning signs, having preventative conversations with loved ones, reporting fraud, and recovering when possible. Whether you’re new to digital safety or a seasoned advocate, this year’s Scam Jam will give you the knowledge you need to stay a step ahead of scammers.
The 9th Annual Fairfax Scam Jam is a community collaboration between AARP Virginia and the Fairfax County Silver Shield Anti-Scam Program.
Resource Fair exhibitors will be on hand until 1 p.m.
Representatives from county, state and federal agencies will be available to answer your fraud and scam questions one-on-one.
Complimentary lunch is provided to registered guests.
Crypto
Wood County Sheriff’s Department pushes for cryptocurrency kiosk protections
WOOD COUNTY, Wis. (WSAW) – The Wood County Sheriff’s Department is hoping a bill that would protect victims from scams involving cryptocurrency kiosks will soon be signed into law. It passed with bipartisan support on Tuesday.
Scammers have used kiosks to take thousands of dollars from victims in north central Wisconsin. Scammers convince people to first deposit cash. It’s then turned into bitcoin and sent to scammers.
The Wood County Sheriff’s Department first received complaints about scams involving cryptocurrency kiosks three years ago. Since then, they’ve been investigating reports and testifying for change.
Sheriff Shawn Becker has been sounding the alarm.
“We did push, we did communicate, communicate with our law enforcement agencies, communicate with other legislators, anybody that would be willing to listen,” Becker said.
Legislation passes with bipartisan support
Lawmakers have been working to impose regulations on these kiosks. One element would require operators to reimburse victims.
“I’m hoping that we can go retroactively to the investigations that we’ve been handling and where we’ve kept the money at the sheriff’s department, and we can give it right back to that victim. And that’s going to be a great day, quite honestly,” Becker said.
The department has thousands of dollars in evidence they seized that they’ll be able to return to victims if the bill is signed into law.
The legislation also includes daily $1,000 transaction limits.
“That limitation is really going to be effective, because somebody can’t walk in there with $20,000 or even more and put it into the machine,” Becker said.
It also requires operators to add warning labels to kiosks. It also requires kiosks to be more than five feet away from ATMs.
“It took many, many people to be involved in this and understand it’s a process to create legislation and we’re there. And we’re really happy with the end result,” Becker said.
Becker also gave an update about a lawsuit from last year. A crypto vendor sued the department for seizing cash from their bitcoin machines. They’ve now settled. Becker said he didn’t agree with that, but it showed they needed to continue pushing for change.
AARP Wisconsin supporting legislation
Raj Shukla is the Wisconsin state director for AARP. He said this legislation does a lot to stop scammers in their tracks and protect victims, especially since it puts $1,000 daily transaction limits on kiosks.
“That means that people won’t be losing a lifetime’s worth of life savings in just a day. It provides for receipts for every transaction so that law enforcement can track transactions and find scammers faster,” Shukla said.
Shukla said the consumer protections that exist on ATMs don’t exist on cryptocurrency machines. He said this legislation levels the playing field.
Shukla is hoping the bill is signed into law this week. He said scams involving cryptocurrency are rampant right now.
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