Minnesota proposes a blanket ban on cryptocurrency ATMs in response to a surge in scams targeting the elderly.

According to Ibtimes, Minnesota lawmakers have introduced a bill to ban cryptocurrency ATMs statewide, one of the strictest regulatory measures ever taken against such devices in the United States. House File 3642, introduced by DFL Representative Erin Koegel, aims to ban the placement or operation of virtual currency ATMs anywhere in Minnesota and repeal the existing regulatory framework established in 2024. The proposal has received support from law enforcement and consumer advocacy groups, who point out that these devices have become a primary tool for scammers, particularly in "pig butchering" scams targeting the elderly. The Minnesota Department of Commerce strongly supports the bill, arguing that existing safeguards are ineffective against sophisticated fraud. The bill must pass the state House of Representatives and Senate before being sent to the governor for signature; the Minnesota legislative session will continue until May 2026.