Gov. Pillen Signs Bill Creating Protections from Cryptocurrency Fraud

LINCOLN, NE — Governor Jim Pillen has signed LB609 into law. This bipartisan, law-enforcement-supported legislation establishes the Controllable Electronic Record Fraud Prevention Act to help combat fraud and protect users of cryptocurrency kiosks/ATMs.

“Cryptocurrency is an important, emerging industry — and we’ve been working hard to build Nebraska into a cryptocurrency leader,” said Gov. Pillen. “An important part of these efforts is to make sure that we have guardrails to prevent criminals from taking advantage of Nebraskans. We look forward to continuing to lay the groundwork for a safe and robust crypto industry in our state. This is good news for consumers."

“Nebraska is open for business in the cryptocurrency space,” said Nebraska Department of Banking Director Kelly Lammers. "That also means we need to increase transparency to assure those doing legal business in the State of Nebraska that you are absolutely welcome. Of course, those that target our citizens, that look to exploit Nebraskans and their financial resources, using Crypto ATMs as part of their transfer method, we will soon have a team that will be watching even more closely."