Albuquerque, New Mexico, passed Ordinance O-26-49 on Sept. 10, banning the operation, hosting, or facilitation of crypto ATMs and over-the-counter cryptocurrency trading services within city limits. According to Bitcoin.com News, City Councilor Stephanie W. Telles said about 90% of such transactions in the area are tied to fraud. The ordinance gives operators 45 days from its effective date to remove affected machines, and individuals or entities that violate the rule face cumulative fines. City Councilor Tammy Fiebelkorn said the measure is meant to remove physical infrastructure that supports fraudulent activity. The ban does not affect residents’ ability to hold, own, mine, or transfer digital assets through other means. The report also noted that the number of crypto ATMs in the United States has fallen from 38,708 to 27,945 after Bitcoin Depot ceased operations.
Albuquerque, New Mexico, passed Ordinance O-26-49 on Sept. 10, banning the operation, hosting, or facilitation of crypto ATMs and over-the-counter cryptocurrency trading services within the city.
According to Bitcoin.com News, City Councilor Stephanie W. Telles said about 90% of those transactions locally are linked to fraud. The ordinance requires operators to remove all affected machines within 45 days of the effective date, and individuals or entities that violate the rule face cumulative fines.
City Councilor Tammy Fiebelkorn said the ban is intended to remove physical infrastructure that enables fraudulent activity. The measure does not affect residents’ ability to hold, own, mine, or transfer digital assets through other channels.
The number of crypto ATMs in the United States has fallen from 38,708 to 27,945 after Bitcoin Depot stopped operating.
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