Minnesota crypto ATM ban goes into effect after reported $1M losses

cointelegraphPublicado em 2026-08-01Última atualização em 2026-08-01

Resumo

A new law banning cryptocurrency ATMs across Minnesota went into effect on August 1. Signed by Governor Tim Walz in May, the law prohibits the installation and operation of these kiosks. Operators must deactivate existing machines immediately and remove them from public view by year's end. State officials cited over $1 million in reported scam losses linked to crypto ATMs from 2023 to 2025, with fraud often targeting seniors through fake emergencies. Minnesota is among several U.S. states, including Tennessee and Georgia, enacting restrictions to combat crypto-related fraud. Before the ban, the state had 201 operational crypto kiosks.

A Minnesota law prohibiting virtual currency kiosks in the US state took effect on Saturday following the signing of a sign by Governor Tim Walz in May.

According to the law, SF 3868, which Walz signed on May 5, all crypto ATM operators in Minnesota are prohibited from “installing, operating, maintaining, or making available” virtual currency kiosks. Companies with machines already installed must deactivate them by Saturday, but have until Dec. 31 to physically remove them from locations “visible or accessible to the public.”

Minnesota’s commerce department reported residents had lost about $1 million from scams tied to crypto ATMs from 2023 to 2025, with the FBI’s Internet Crime Complaint Center reporting the state had more than $151 million in losses tied to crypto or crypto wallets in 2025. Officials said that the schemes “disproportionately targets seniors” and often involved situations where victims were pressured to quickly send money based on fake emergencies.

The ban on kiosks allowing users to purchase Bitcoin (BTC) and other cryptocurrencies is just one of many measures US states are considering in response to fraudulent activity. Tennessee began enforcing a total ban on the machines on July 1, a Georgia law requiring transaction limits and other restrictions went into effect the same day and Delaware and New Jersey lawmakers have advanced bills proposing similar measures.

Data from CoinATMRadar showed that there were 201 crypto ATMs and kiosks operating in Minnesota before the statewide ban took effect on Aug. 1.

Related: Crypto ATM bans, restrictions now in effect in Tennessee and Georgia

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Perguntas relacionadas

QWhat prompted Minnesota to ban cryptocurrency ATMs?

AMinnesota banned cryptocurrency ATMs after its commerce department reported residents lost about $1 million from scams tied to crypto ATMs from 2023 to 2025, with the FBI's Internet Crime Complaint Center reporting over $151 million in state losses tied to crypto or crypto wallets in 2025.

QWhat specific actions does the new Minnesota law, SF 3868, require from crypto ATM operators?

AThe law, SF 3868, prohibits all crypto ATM operators in Minnesota from installing, operating, maintaining, or making virtual currency kiosks available. Companies with existing machines had to deactivate them by August 1st and must physically remove them from public view or access by December 31st.

QWhen did the Minnesota cryptocurrency ATM ban officially take effect?

AThe Minnesota cryptocurrency ATM ban officially took effect on Saturday, August 1st.

QHow many cryptocurrency ATMs were operational in Minnesota before the statewide ban?

AAccording to data from CoinATMRadar, there were 201 crypto ATMs and kiosks operating in Minnesota before the statewide ban took effect.

QWhich other US states have recently taken action against cryptocurrency ATMs, and what were their measures?

AOther US states taking action include Tennessee, which began enforcing a total ban on the machines on July 1st; Georgia, which implemented a law requiring transaction limits and other restrictions on the same day; and Delaware and New Jersey, where lawmakers have advanced bills proposing similar measures.

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