Grosse Pointe Farms is the first Michigan town to pass a law regulating crypto ATMs

Grosse Pointe Farms, Michigan, has become the first city in the state to regulate cryptocurrency ATMs due to increasing scam activity. The new law requires crypto ATM operators to register with the Department of Public Safety, obtain a business license, and display fraud warnings. New users will be limited to transactions of $1,000 per day and $5,000 within their first 14 days of use; these limits are removed after the initial period. The city council approved the ordinance to increase transparency and protect residents from scams, where victims are often instructed to deposit cash into crypto ATMs under false pretenses. A representative from Coinflip, a crypto ATM operator, supported the measure, highlighting the vulnerability of first-time users. The regulations may serve as a model for other communities in Michigan and across the U.S.