Albuquerque city council passed an ordinance on Wednesday banning crypto kiosks and cashier-facilitated virtual currency transactions.
Operators and the businesses hosting the machines face a 45-day removal deadline.
Indiana, Tennessee and Minnesota have already banned the machines statewide, and the largest U.S. operator went bankrupt in May.
Albuquerque has banned cryptocurrency ATMs within city limits, with an ordinancepassed by the city council on Wednesday that also covers cashier-facilitated virtual currency transactions.
The city will now notify known operators and the retailers hosting their machines, who have 45 days to take them out.
District 1 Councilor Stephanie Telles, who co-sponsored the measure with District 7 Councilor Tammy Fiebelkorn, said 90% of crypto ATM transactions in Albuquerque are tied to fraud. “No one who legitimately exchanges or transmits virtual currency uses these kiosks, because the high fees make them a ripoff,” Telles said in a press release. She argued that they are primarily used by “Scammers, organized crime, and human traffickers” because the transactions are instant, anonymous, and irreversible.
“We cannot wait for federal regulators to solve this crisis while our residents are actively being targeted and harmed in our own neighborhoods,” Fiebelkorn added.
Residents remain free to own, mine and transfer crypto through online exchanges and personal wallets, the council said.
Myriad: Bitcoin’s next move? Click to make your prediction.
Crypto ATM bans spread
The city ban follows a run of statewide prohibitions. Indiana went first in March, Tennesseefollowed in July, and Minnesota’s ban,floated in the spring, took effect in August. Delaware hasadvanced a bill, New Jersey is considering one, and Texas lawmakers are weighing a ban after kiosk scamscost residents $57 million.
Bitcoin Depot, once the largest operator in North America,filed for Chapter 11 in May and pulled roughly 9,700 kiosks offline, with chief executive Alex Holmes citing transaction limits and “in some jurisdictions, outright restrictions or bans.”
Telles’s 90% figure is high, but not an outlier. Washington, D.C.’s attorney generalsued Athena Bitcoin last year after finding that 93% of deposits into its seven kiosks in the city over five months were the product of fraud, with a median victim age of 71. Athena said it strongly disagreed. The FBIlogged nearly 11,000 kiosk fraud complaints in 2024, worth more than $246 million.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
The FSNN News Room is the voice of our in-house journalists, editors, and researchers. We deliver timely, unbiased reporting at the crossroads of finance, cryptocurrency, and global politics, providing clear, fact-driven analysis free from agendas.
We and our selected partners wish to use cookies to collect information about you for functional purposes and statistical marketing. You may not give us your consent for certain purposes by selecting an option and you can withdraw your consent at any time via the cookie icon.
Cookies are small text that can be used by websites to make the user experience more efficient. The law states that we may store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies, we need your permission. This site uses various types of cookies. Some cookies are placed by third party services that appear on our pages.
Your permission applies to the following domains:
https://fsnn.net
Necessary
Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.
Statistic
Statistic cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.
Preferences
Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.
Marketing
Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.