Minnesota proposes a complete ban on cryptocurrency ATMs

2026-03-01 09:52:02

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Odaily Planet Daily News: US Minnesota lawmakers have introduced a bill to ban cryptocurrency ATMs statewide, making it one of the strictest regulations against such devices in the United States.

House File 3642, introduced by DFL representative Erin Koegel on February 23, 2026, aims to prohibit the placement or operation of virtual currency ATMs anywhere in Minnesota and to repeal the existing regulatory framework established in 2024.

The proposal has received support from law enforcement and consumer advocacy groups, who point out that these devices have become major tools for scammers, especially in “pig butchering” scams targeting the elderly. The Minnesota Department of Commerce strongly supports the bill, believing that current safeguards are ineffective against complex fraud schemes. The bill must pass both the state House and Senate before being signed by the governor. The Minnesota legislative session will continue until May 2026. (Ibtimes)

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