ALBUQUERQUE, NM — Tonight, the Albuquerque City Council approved O-26-49, formally known as the “Virtual Currency Ordinance,” prohibiting the operation, hosting, and facilitation of Virtual Currency Automatic Teller Machines (ATMs) and cashier-facilitated virtual currency transactions within City limits.

Co-sponsored by District 1 Councilor Stephanie W. Telles and District 7 Councilor Tammy Fiebelkorn, the groundbreaking legislation addresses a rapid, nationwide increase in financial fraud facilitated by physical cryptocurrency kiosks. The ordinance acts as a critical consumer protection measure, specifically safeguarding older adults and other vulnerable populations who are disproportionately targeted by impersonation scams and…