Minnesota Considers Outright Ban on Crypto Kiosks as Scams Mount

(Adobe Stock via Minnesota News Connection)

(By Mike Moen. Minnesota News Connection) – Minnesota is part of a nationwide push to crack down on scams targeting people through cryptocurrency kiosks.

Lawmakers, police chiefs and consumer advocates said recent policy moves are not enough, leading to a proposed statewide ban on crypto automatic teller machines. Another legislative hearing was expected this week on a bill to prohibit electronic kiosks handling virtual currency transactions.

The licensed ATMs have popped up in gas stations and other retailers, with about 350 in Minnesota. In 2024, the state adopted tighter rules.

Thomas Elness, advocacy manager for AARP Minnesota, said imposters are still finding ways to work around those laws and are pressuring people to deposit a lot of money when hearing threatening verbal commands.