Wisconsin Lawmakers Eye Cryptocurrency Regulations Amid Elderly Scam Losses
A bipartisan Wisconsin legislative committee is examining whether the growing cryptocurrency industry needs more regulation. The committee met at the Capitol to discuss potential regulations, citing a rise in scams targeting elderly residents.
According to the Wisconsin Department of Financial Institutions, Wisconsin residents over 60 lost $46 million to cryptocurrency scams in 2025.
The scammers prefer using cryptocurrency because transactions are permanent, fast, and anonymous. 'The tools used to perpetrate scams are more sophisticated,' said Robin Jacobs, an attorney with the Department of Financial Institutions.
Jacobs added that some common investment scams include pig butchering scams and phishing scams involving bogus websites.
The committee plans to meet again on Oct. 15 and is seeking public input on potential legislation.