In brief
- Tennessee has become the second U.S. state to impose a sweeping ban on Bitcoin ATMs, which is set to take effect in July.
- In March, Indiana imposed a ban on the machines, which federal authorities have identified as a vector committing fraud against the elderly.
- The FBI reported that Americans aged over 60 lost $257 million to scams involving Bitcoin ATMs last year.
Tennessee has become the second U.S. state to outlaw Bitcoin ATMs, making it a criminal offense in the Volunteer State to own or operate the machines that federal authorities have identified as a vector committing fraud against the elderly.
Whether operators’ kiosks allow customers to purchase Bitcoin or other digital assets with cash, they have until July 1 to…
