Minnesota Bans Crypto ATMs After Fraud Losses Top $1 Million
Minnesota has completely banned cryptocurrency ATMs, ordering operators to shut down and remove them after residents lost roughly $1 million to scams since 2023.
Minnesota has outlawed all cryptocurrency ATMs, forcing operators to disable the machines by August 1 and remove them from public spaces by the end of the year.
The move follows a sharp increase in fraud schemes tied to the terminals. From 2023 to 2025, residents lost approximately $1 million through crypto ATM scams, with elderly people disproportionately targeted. Companies that exclusively operated through such kiosks must now refund remaining customer balances.
The ban highlights growing regulatory scrutiny of crypto on-ramps as authorities grapple with consumer protection in the digital asset space.
Source: ForkLog