Tom McInnis
Coverage of Tom McInnis in the Nexus archive.
- Proposal to regulate cryptocurrency ATMs wins NC Senate approval Tuesday
The North Carolina Senate approved a bill to regulate cryptocurrency ATMs, reducing transaction fee caps from 14% to 12%. The bill, House Bill 920, faces debate over its effectiveness in curbing scams linked to the kiosks, with some lawmakers advocating for a ban instead. AARP reported $389 million in losses from crypto ATM scams in 2025, primarily affecting adults 60 and older.
- NC Senate passes expansive revenue bill changing vape enforcement, R&D tax breaks
The North Carolina Senate passed Senate Bill 595, which shifts enforcement of vapor product regulations to Alcohol Law Enforcement, requires licenses for alternative nicotine product retailers, and modifies research and development tax deductions. The bill, supported by all present Republicans and opposed by Democrats, includes provisions for financial exploitation prevention and hurricane-related tax credits but faces criticism for potentially discouraging innovation by spreading R&D deductions over five years.