CoinTelegraph

Minnesota crypto ATM ban takes effect after $1M in reported losses

August 1, 202603:07 PM
Minnesota crypto ATM ban takes effect after $1M in reported losses

Minnesota has enacted a complete ban on cryptocurrency kiosks after state officials reported residents lost approximately $1 million to scams between 2023 and 2025. Governor Tim Walz signed SF 3868 into law in May, prohibiting crypto ATM operators from "installing, operating, maintaining, or making available" virtual currency kiosks throughout the state.

Minnesota authorities highlighted that the scam schemes "disproportionately target seniors" and often involve situations where victims are pressured to quickly send money based on fake emergencies. This legislative action reflects growing concerns about investor safety in cryptocurrency and represents one of the most comprehensive bans on crypto kiosks in the United States.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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