🚀 California's crypto ATM crackdown: New bill proposes $1,000 daily withdrawal cap and fee limits! 😱 Why? Legislators found markups as high as 33% and withdrawal limits up to $50k at some ATMs. 😵

- Bill aims to protect consumers from scams 💪

- If approved, law takes effect on Jan. 1, 2024 📅

- Operators' fees limited to $5 or 15% (whichever is higher) starting 2025 💸

- Digital financial asset businesses must obtain a license by July 2025 📜

But wait! Crypto ATM businesses argue the bill will hurt small operators and fail to address the core issue of fraud. 🤔 Stay tuned for more updates! 🍿