NJ S2141

Prohibits any business entity from owning, controlling, installing, managing, selling, or offering for sale cryptocurrency automatic teller machines (ATMs) in New Jersey

Defines cryptocurrency ATMs as physical, internet-connected kiosks that allow users to buy, sell, send, or receive cryptocurrency using debit cards, credit cards, or cash

Violations constitute unlawful practice under consumer fraud law, punishable by up to $10,000 for first offense and $20,000 for subsequent offenses, plus potential cease and desist orders, punitive damages, and treble damages

Cites Federal Trade Commission data showing fraud losses from cryptocurrency ATMs surged nearly tenfold since 2020, exceeding $110 million in 2023 and $65 million in the first half of 2024 alone

Takes effect six months after enactment, with the Director of Consumer Affairs authorized to promulgate implementing regulations