City in Washington Bans Crypto Kiosks After State Witnessed $141,756,936 in Losses to Scams
A city in Washington has banned crypto kiosks in a bid to crack down on digital asset fraud.
The city of Spokane is banning crypto kiosks after the City Council voted unanimously to pass an ordinance that seeks to protect its residents against scams aided by digital asset ATMs.
“This ordinance prohibits virtual currency kiosks from being operated in the City of Spokane. Spokane has seen a significant increase in scams arising from the use of cryptocurrency kiosks, and there has been a steady increase in victims losing thousands of dollars.
This ordinance provides for a tool to protect consumers from those individuals who rely primarily on virtual currency to defraud others.”
Crypto kiosks allow users to buy and transfer…
