Minnesota is set to ban cryptocurrency kiosks — often called crypto ATMs — after scams tied to the machines reportedly cost residents nearly $1 million over the past few years.

According to local news provider KIMT News 3, state officials say the kiosks have become an increasingly common tool for fraud because they let people swap cash for digital currency very quickly, after which tracing or recovering the money becomes far more difficult.

What’s happening?

Beginning Aug. 1, Minnesota will prohibit physical cryptocurrency kiosks, a move state officials said is meant to address a rapidly growing form of fraud.

Between 2023 and 2025, Minnesota logged 134 complaints involving crypto kiosk scams and close to $1…