Lawmakers consider bill to combat fraud at crypto kiosks

Published in RINewsToday on April 7, 2025

Maybe the second time will be the charm. After the Rhode Island General Assembly failed to address the issue of preventing criminals from using cryptocurrency (Crypto) ATMs to steal from older Rhode Islanders, AARP Rhode Island is renewing its effort to regulate the state’s 120 crypto kiosks and safeguard older residents.

More than 45,000 crypto kiosks, which resemble bank ATMs, allow users to conduct legitimate cryptocurrency transactions, such as sending money to digital wallets. However, unlike banks and other financial services, these kiosks in Rhode Island are not regulated and lack critical fraud protections.

In 2023, the FBI received over 5,500 complaints involving crypto kiosks, with older adults disproportionately affected by scams. In Rhode Island alone, victims lost $10 million to cryptocurrency scams. The Rhode Island State Police also reported a rise in cryptocurrency ATM scams, with 40 cases reported in 2024 and already 21 cases in early 2025.

With fraud spreading through supermarkets, convenience stores, and gas stations, the Washington, D.C. based AARP is working with 17 of its state affiliates, including Rhode Island, to draft and pass bills incorporating daily transaction limits, state operator licensing requirements, scam warnings, and refund options for fraud victims.

Fighting Fraud and Exploitation

Introduced on Jan. 22, 2025, HB 5121, introduced by Rep. Julie Casimiro (D-Dist. 31, North Kingstown, Exeter), aims to license cryptocurrency kiosk operators and mandate the posting of fraud warnings. It also requires Kiosks to display terms and conditions before transactions, including any fees charged and exchange rates. Additionally, it would set fee caps at either $5 or 3% per transaction, and mandate paper receipts containing relevant transactional information.  The bill was referred to the House Committee on Innovation & Technology.

The bill would also require crypto operators to refund transactions and ATM fees in cases of fraud, and impose daily transaction limits to mitigate high-risk  transactions.

On Feb. 11, 2025, the House Committee on Innovation & Technology held its hearing to discuss HB 5121. Supporters and critics testified on its merit.

Written Testimony Highlights


Catherine Taylor, AARP Rhode Island’s State Director, urged lawmakers to pass HB 5121, citing the growing issue of crypto fraud. She referenced Federal Trade Commission (FTC) data showing that, in 2022, the actual amount stolen through fraud was likely closer to $137.4 billion – far exceeding the report $9 billion.

Matthew Netto, AARP Associate State Director, also submitted written testimony, citing a 2023 case where the founders of the Bitcoin of America ATM network were arrested for money laundering and conspiracy (in Ohio), with a focus on defrauding elderly victims. He emphasized that while cryptocurrency is a legitimate form of currency, gaining in popularity, it has become an increasingly attractive tool for criminals. He called on lawmakers to protect older Rhode Islanders, stating that the point of transfer is the best place to deter crime.

Attorney General Peter F. Neronha echoed these concerns, noting the difficulties of navigating the volatile crypto market.  Rhode Island’s top law enforcement officer urged lawmakers to adopt regulations for the operation of crypto kiosks and requiring disclosure of all material risks prior to virtual currency transactions.

Larry Lipka, General Counsel for Coinflip, a global digital currency platform company, expressed cautious support for HB 5121, stating his company supports most provision, some elements – such as the fee cap and physical receipt requirement – could inadvertently encourage less transparency and compliance efforts that help protect consumers. He also raised concern about the bill’s transaction limits, which could undermine anti-money laundering efforts.

Ethan McClelland, Bitcoin Depot’s Director of Government Relations also expressed support for the bill but warned that certain provisions, particularly daily transaction limits and the fee cap, would make it difficult for operators to continue operating in Rhode Island. The company is the largest operator of cryptocurrency kiosks in the United States.

Sen. Victoria Gu (D-Dist. 38, Westerly, Charlestown, South Kingston), introduced, SB 16, the Senate companion measure.  After a March 18, 2025 hearing before the Senate Commerce Commit the legislative proposal was held for further study.


The Art of Compromise
Following concerns raised during the hearings, the House committee recommended further study of HB 5121. Subsequently, AARP Rhode Island met with Rep. Julie Casimiro, the sponsor of HB 5121, and crypto industry representatives, leading to compromises that satisfied both regulatory advocates and the crypto ATM industry.

As a result of this compromise, the revised version of  HB 5121 was passed on March 27, 2025, by a vote of 10-0.  HB 5121 Sub. A sets daily transaction limits of $2,000 for new customers and $5,000 for existing customers, aligning with regulations in Connecticut.  The fee cap provisions were removed, and physical receipt requirements will take effect in Nov. 2025, while other provisions become law upon passage.

The initial bill required operators to provide full refunds to new customers. In the revised version, new customers must request a full refund within 30 days if they claim fraudulent inducement.

Looking Ahead

The House is expected to vote on HB 5121 Substitute A on Thursday, April 10, 2025. If it passes the Senate must act. With three months left in the 2025 legislative session, an amended version of SB has yet to be introduced.  However, there is ample time for the Senate to amend SB 16 to align with the House version.  Once both chambers pass identical bills, they must be signed by Governor Dan McKee to become law.

If the crypto regulation bill does not pass the Rhode Island General Assembly this year, lawmakers may try again next year.  Will the third time be the charm?

Attorney General Peter Neronha, General Treasurer James Diossa, Senior Agenda Coalition of RI, Westerly Police Department, the Village Common of Rhode Island, Rhode Island Coalition of Elder Justice, Rhode Island State Police and dozens of older Rhode Islanders join the AARP in supporting HB 5121 Sub. A and SB 16.

To watch the House Committee on Innovation & Technology’s  Feb. 11 hearing (HB 5121), go to https://capitoltvri.cablecast.tv/show/10801?site=1. Or its March 27 hearing, go to https://capitoltvri.cablecast.tv/show/11030?site=1.

To watch the Senate Commerce Committees March 18 hearing (SB 16), go to https://capitoltvri.cablecast.tv/show/10973?site=1

AARP provides tips and resources on how you can protect yourself against cryptocurrency ATM scams, go to  https://www.aarp.org/money/scams-fraud/crypto-atm/.

Volunteering: Your Single New Years Resolution 

Published in RINewstoday on January 10, 2023

As the ball dropped in New York’s Time Square, many Americans have already penned New Year’s resolutions for 2023.  Making these resolutions as January approaches has become a very common tradition for millions.

According to the Statista 2022 Consumer Survey (413 adults ages 18 to 89 years old surveyed from Oct. 25 to Nov. 2, 2022) living a healthier life style by going to the gym, eating nutritious meals and even losing weight were the top three New Year’s resolutions for 2023.

While resolutions provide us with a road map as to how we can make improvements in our lives, many can’t overcome obstacles to keep them. An Inc. web article, written by Marcel Schwantes, noted only 9 percent will be successful in achieving their goals.

Just “Pick One” – Resolution

Second Harvest Heartland, one of the nation’s largest hunger relief organizations, calls on people to just put one resolution, “becoming a volunteer” on their list. “Picking a cause and getting out to volunteer turns out to be the one single, achievable, sustainable and widely beneficial resolution for New Year,” says the Minnesota-based company.

That’s a great suggestion.

According to Project Helping, research tells us that “volunteering helps improve mood, makes you feel healthier, increases your sense of purpose, and reduces your stress levels. Volunteering can also give us a deep sense of happiness both immediately and long-term,” the research studies say.

“Our volunteers give their time to help others, and rarely ever think about how it can impact their own lives in so many ways,” said Julie Greene, director of volunteer engagement at Second Harvest Heartland. “Of course, they feel a tremendous sense of satisfaction knowing their contributions are making a difference in people’s lives, but the benefits of their actions go way beyond that. 

Given the camaraderie people feel by coming together and the satisfaction of working on a common goal, I’m not surprised at all that research has proven the benefits of volunteering—we see it every day with the smiles on our volunteers’ faces,” says Greene.

“Volunteering is Medicine for the Soul”

Being a volunteer can also be a protective buffer from the curve balls that life may throw at us as we age. “Volunteering can be medicine for the soul. It allows you to connect with other people, explore and remedy emerging community issues, make a difference as a caregiver or mentor and change lives.

Volunteering is powerful and can define and redirect your life’s journey,” says Vincent Marzullo, who for 31 years served as RI’s National Service Director and still volunteers weekly at Hasbro Children’s Hospital.

Adds, James Connell, Executive Director, of Age-Friendly Rhode Island:  “There’s no better way to reduce tension, combat social isolation, and feel tremendous self-satisfaction than by connecting with others and giving back to the community and your neighbors by volunteering.”

Connell says Rhode Islanders as a population are aging, nearly one in three of us will become age 65 and over by the end of the decade. “Volunteers and volunteerism will be key factors in creating a great state in which to age. Older adults want to stay active, engaged, and remain in their homes; as a volunteer or by being the recipient of volunteers services we can achieve this and so much more,” he says.

“Aging Rhode Islanders need you,” says Connell.  “Volunteer to provide supports to stay at home, to connect and provide company to combat social isolation, and to positively impact their overall health and well-being trough connection and service,” he adds.

A sampling of Rhode Island volunteer opportunities

For volunteer opportunities, Connell calls on seniors to contact Retired Senior and Volunteer Program (RSVP), the nation’s largest volunteer network for those age 55 and over.  RSVP volunteers serve the community at non-profits, community programs, and service agencies. Volunteers mentor school children, prepare tax returns, knit caps for newborns, participate in volunteer transportation networks, and visit homebound Rhode Islanders, he says.

Why not  contact a Community Action Program (CAP) in your region to find out more about volunteer opportunities, suggests Connell, noting that they are located in East Bay (EBCAP), West Bay CAP, East Bay (EBCAP) and at Federal Hill House Providence.

Or you can contact the Diocese of Providence, or other faith communities, to learn more about volunteer opportunities. 

The Neighborhood Friendly Visitor Program, a community-based volunteer program, provides weekly visitors to isolated elderly and disabled adults in Rhode Island, seeks older volunteers, says Connell. “The program was developed in 1978 by Sister Rhea Lachapelle of the Sisters of Saint Ann to address the needs of a growing and diverse population of seniors living alone with little or no social support. Any senior age 60 and over, or disabled person who is homebound, residents of any nursing home or assisted living, or patients at hospitals, is eligible for this program. There are no income guidelines and there is no fee for this service,” adds. Connell.

Connell says that Friendly Visitor volunteers are available state-wide. Volunteers have supplied personnel references and passed a background check through the Office of the Attorney General. The program has on-going recruitment of volunteers who make a commitment to visit or call seniors for at least one hour each week. This program is funded in Partnership with the Rhode Island Office of Healthy Aging, he says.

The Senior Companion Program, sponsored by the Rhode Island Office of Healthy Aging (RIOHA) and the federally funded by the Corporation for National & Community Service, also seeks volunteers, says Connell. “Senior companions are over the age of 55 and provide companionship and reassurance with seniors and adults with special needs, he says, noting that these companions visit, and listen.

To request a Senior Companion or to apply to be a Senior Companion contact RIOHA at 401-462.0569.  

Connell also directs seniors to investigate volunteer opportunities at The Village Common of Rhode Island (TVC). The nonprofit, volunteer-driven membership organization supports seniors who wish to age in their home via a network of local villages – communities of mutual support – in Rhode Island.

“We currently have villages in Barrington, Edgewood, Providence and Westerly. Our volunteers assist members in a myriad of ways, from driving to medical appointments and running errands, to doing household chores and minor repairs, to providing technology support for TVs, phones and computers, to making friendly calls and visits,” says Connell, noting that TVC and its local villages host an array of social and educational events for our members and volunteers (live, and via zoom).

Finally, Connell also notes that local Senior Centers, Child and Family Rhode Island, located in Newport and Providence, Meals on Wheels, the Rhode Island Food Bank (or local food banks in every city and town, can be a great source for volunteering, too. 

For details about the benefits of becoming a volunteer, go to 

https://projecthelping.org/benefits-of-volunteering/.

To learn about volunteer opportunities, go to:

A listing of senior volunteer activities, Office of Healthy Aging, go to https://oha.ri.gov/get-involved/volunteer/

AARP Rhode Island, go to https://states.aarp.org/rhode-island/volunteering-aarp-rhode-island

Rhode Island Food Bank, go to https://rifoodbank.org/get-involved/volunteer-in-the-community/ or 

Local food bankshttps://dhs.ri.gov/sites/g/files/xkgbur426/files/Documents-Forms/FoodAssistanceProviderListFAL-October-16-2020.pdf

Children@FamilyRI, go to https://childandfamilyri.com/

Rhode Island Community Action Programs, go to  https://www.ricommunityaction.org/find-your-community-action-agency/

Rhode Island Senior and Volunteer Program, go to https://americorps.gov/serve/americorps-seniors

United Way of Rhode Island, go to https://volunteer.uwri.org/

RI Elder Info, Advocacy Agencies, go to https://rielderinfo.com/advocacy-assistance/

Diocese of Providence, go to https://dioceseofprovidence.org/elder-services