San Diego is the first city in California to target a new kind of financial scam where criminals persuade victims — in particular senior citizens — to send them money using ATMs that convert dollars to cryptocurrency.

The City Council unanimously approved a new law Tuesday that requires warning signs at the more than 100 cryptocurrency ATMs that have begun operating in San Diego.

Similar warning signs required by the city of Omaha, Neb., reduced ATM cryptocurrency scams by 80% in just one year, according to the American Association of Retired Persons.

“Stopping scams before they take place is critical and can be the difference between facing life-altering consequences or continuing to meet basic needs,” said Council President…