Bitcoin Depot, once the country’s largest cryptocurrency kiosk operator, filed for bankruptcy this month, citing tougher new regulations and compliance obligations that have made its business model unsustainable. The company announced that its network of more than 9,000 crypto kiosks worldwide — located in the U.S., Canada and Australia — has been shut down.

The collapse follows AARP’s calls to lawmakers to clean up the crypto kiosk industry and stop the explosion of devastating scams facilitated by these machines. “These kiosks were completely unregulated — it was the Wild, Wild West,” says Bill Sweeney, AARP’s senior vice president of government affairs, “and like with…