Albuquerque Bans Bitcoin ATMs, Giving Operators 45 Days to Remove Them
Summary
Albuquerque has banned cryptocurrency ATMs and cashier-facilitated virtual currency transactions within city limits. Operators and host retailers will be notified and have 45 days to remove the kiosks. City leaders said the machines are heavily tied to fraud, with one councilor citing an estimated 90% of local transactions as scam-related and arguing the kiosks are used because payments are instant, anonymous, and irreversible. Residents can still own, mine, and transfer crypto through online exchanges and personal wallets. The move follows similar restrictions or proposed bans in several states, driven by widespread scam losses and complaints to federal authorities.
