OLYMPIA, WA (MyBellinghamNow.com) – A bill heading to the state Senate floor aims to crack down on virtual currency fraud.

SB 5280 would limit the amount of money a virtual currency kiosk could move from a single customer in a day to $1,000.

Other rules would limit customer use fees the kiosk operator could charge and increase transparency for customers with context-heavy receipts.

Virtual currency has been a target for crime in recent years, from scams to physical assaults targeting users of the online currency.

Last month, the state Department of Financial Institutions warned against engaging with CoinMe, a cryptocurrency vendor, after finding the company engaged in unsafe practices.

Regulators say CoinMe counted more than $8 million owed to customers as income when crypto voucher codes expired. The cryptocurrency company also failed to meet financial requirements, filed inaccurate reports and listed a non-working customer support number.

CoinMe operates more than 50,000 ATMs nationwide, including one in Bellingham. They also operate a large online platform for buying and selling the cryptocurrency BitCoin.

The U.S. Marshals Service in western Washington warned last week against scams targeting people for virtual currency using phone and email threats.

Those include false claims of outstanding warrants, which in some cases were emailed to victims with instructions on how they can pay fines with BitCoin. Scam callers can “spoof” real phone numbers to make it look like they’re calling from a legitimate source, and will often provide fake identifying information, like a badge number.

The US Marshals Service is reminding people that they will never ask for payment through email or over the phone.

While there are no federal rules regulating cryptocurrency or blockchain in the U.S., many states has looked to find ways to track its storage and use in their jurisdictions. The University of Pennsylvania reports Washington state currently has several regulations defining cryptocurrency as it relates to physical currency.

Kathi O’Shea and Dianna Hawryluk contributed to this story.