Minnesota crypto ATM ban goes into effect after reported $1M losses
Minnesota has banned virtual currency kiosks, with the law taking effect on Aug. 1 after Gov. Tim Walz signed SF 3868 on May 5. Crypto ATM operators in the state can no longer install, operate, maintain, or offer these kiosks. Existing machines must be shut down immediately, and removed from public view or access by Dec. 31. The ban responds to growing scam losses tied to crypto ATMs and wallets. State officials said Minnesotans lost about $1 million to crypto ATM scams from 2023 to 2025, while FBI data showed more than $151 million in crypto-related losses in 2025. Authorities said the scams often target seniors and pressure victims to send money quickly in response to fake emergencies. Minnesota joins other states moving to restrict or ban crypto ATMs, including Tennessee and Georgia.
