Albuquerque Bans Crypto ATMs, Gives Operators 45 Days to Remove Machines

• Albuquerque City Council has banned the use of physical cryptocurrency ATMs.
• The ban follows rising cases of fraud and scams, often targeting elderly residents.
• City Council set a 45-day deadline for crypto ATM operators to remove machines or face penalties.

The Albuquerque City Council of the US state of New Mexico has banned Virtual Currency Automatic Teller Machines, also known as crypto ATMs, citing crime-related issues. 

Albuquerque’s District 1 Councilor Stephanie W. Telles stated that 90% of crypto ATM transactions in Albuquerque are used to commit fraud and scams, often targeting elderly residents. Meanwhile, city leaders also cited a nationwide increase in financial fraud facilitated by the cryptocurrency kiosks as a reason for the ban.

The Ban is Restricted to Physical ATMs Only

After the crypto ATM ban, cryptocurrency users in Albuquerque can no …

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