Cryptocurrency ATMs Banned in Albuquerque Due to Fraud
The city council of Albuquerque, New Mexico, has enacted a ban on cryptocurrency ATMs and over-the-counter digital asset transactions. Operators must immediately deactivate devices and remove them within 45 days. The ordinance prohibits installing, operating, maintaining, or hosting crypto kiosks within city limits. Transactions where a cashier facilitates buying, selling, or transferring cryptocurrency are also banned, though personal ownership, mining, software development, and peer-to-peer transfers are not affected. Violations will incur fines, potential court-ordered removal, and license revocation for businesses.
Council members Stephanie Telles and Tammy Fiebelkorn introduced the measure. Telles claimed approximately 90% of crypto ATM transactions in Albuquerque are linked to fraud, arguing the machines are primarily used by scammers, criminal organizations, and human traffickers due to high fees deterring legitimate users.
The issue extends beyond Albuquerque. According to the FBI's Internet Crime Complaint Center, Americans filed over 13,400 reports in 2025 concerning crypto ATM fraud schemes, with reported losses exceeding $388 million—a 58% annual increase. Over half the complaints came from people over 50, accounting for more than $302 million in losses. Albuquerque joins several other US states, including Delaware and New Jersey, in implementing such bans.
Despite the crackdown, the US leads globally in crypto ATM installations with a 70.8% share, and North America accounts for 85.1% of all devices. Leading operators include CoinFlip, Athena Bitcoin, and Bitstop. The industry faces scrutiny, with Athena Bitcoin accused in 2025 of profiting from elder fraud and Bitcoin Depot experiencing license revocation, a hack, and bankruptcy filings in 2026.
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