Lawmaker in Texas advocates for installation of cryptocurrency automatics in federal offices
Texas Rep Lance Gooden Pitches Crypto ATMs in Fed Buildings
Here's a fresh take on the idea Texas Representative Lance Gooden proposed: installing cryptocurrency ATMs in federal buildings across the nation.
Gooden highlights the importance of modernizing public infrastructure, catering to an ever-growing segment of Americans dabbling in digital assets. In a letter to Acting GSA Administrator Stephen Ehikian, he encourages the agency to delve into the feasibility of this ambitious plan, emphasizing that it sends a clear message to the public about the government's embrace of innovation in a secure and responsible manner.
This idea mirrors former President Donald Trump's election platform, emphasizing U.S. dominance in cryptocurrency and blockchain technology. Gooden classified the proposal as a strategic step towards positioning the U.S. as a frontrunner in the cryptocurrency realm.
As per Gooden's guidelines, any potential crypto ATMs would be outfitted with strict identity verification, fair fee structures, and adherence to anti-money laundering regulations. He notably highlights the necessity of collaboration between regulators, private sector tech providers, and compliance experts, ensuring consumer protection and trust are prioritized.
Tether Aims for US Stablecoin Launch This Year, Report Claims
Crypto ATMs have experienced a surge in popularity in recent years, but they've also raised eyebrows among regulators. These kiosks have been flagged by law enforcement as potential avenues for fraud, with scams specifically targeting vulnerable users[3].
Gooden's letter acknowledges these concerns, urging the GSA to establish clear operational guidelines to address such risks. By introducing crypto ATMs into federal spaces, Gooden argues, the government can provide both practical financial access and public education on digital assets — particularly in underserved communities.
As of this article's publication, the GSA has yet to respond publicly to Gooden's request[4].
Meanwhile, the UK's chief financial regulator is proposing bans on purchasing cryptocurrency using debt[6]. Stay tuned for more updates on these developments.
- Texas Representative Lance Gooden's proposal for cryptocurrency ATMs in federal buildings demonstrates an emphasis on modernizing public infrastructure.
- Gooden encourages the General Services Administration (GSA) to explore the feasibility of this plan, emphasizing its potential to showcase the government's innovation in a secure and responsible manner.
- Gooden's proposal mirrors former President Donald Trump's election platform, which emphasized U.S. dominance in cryptocurrency and blockchain technology.
- If implemented, Gooden's guidelines would ensure that any potential crypto ATMs adhere to strict identity verification, fair fee structures, and anti-money laundering regulations.
- Crypto ATMs have seen a surge in popularity but have raised concerns among regulators due to potential fraud and scams targeting vulnerable users.
- Gooden's letter to the GSA acknowledges these concerns and urges the establishment of clear operational guidelines to address such risks.
- Tether, a large stablecoin company, aims to launch a US-based stablecoin this year, according to a recent report.
- While the GSA has yet to respond publicly to Gooden's request, the UK's chief financial regulator is proposing bans on purchasing cryptocurrency using debt.
