Minnesota lawmakers, backed by local police and the Department of Commerce, have introduced legislation to ban crypto ATMs statewide. House File 3642, sponsored by Rep. Erin Koegel, reached the House Commerce Finance and Policy Committee on Thursday, and the measure would prohibit the operation of virtual currency kiosks that accept cash or debit cards for instant crypto purchases and repeal the relevant regulatory framework previously enacted in 2024.

That earlier law required operators to post warnings that crypto is not legal tender and transactions are irreversible, imposed a $2,000 daily limit on new customers who had held accounts for less than 72 hours, and allowed refunds if fraud victims contacted the company…