ST. PAUL, Minn. (FOX 9) – ATMs that deal in cryptocurrency could be banned in Minnesota soon.
Crypto ATM ban considered
The backstory:
Police across the state are urging lawmakers to pass a DFL ban on those kiosks that convert cash to crypto.
They say the machines are used extensively by criminals trying to scam people or to hide the proceeds of their crimes. In 2024, lawmakers passed a law to regulate the machines. Still, last year Attorney General Keith Ellison warned of an increase in crypto ATM scams.
At a hearing last month, Faribault police reported their residents had lost $500,000 since 2022 from crypto ATM scams. Woodbury Detective Lynn Lawrence told lawmakers about a victim she helped who had completed at least…
