The Albuquerque City Council in New Mexico has passed an ordinance banning cryptocurrency ATMs and virtual currency transactions carried out with over-the-counter assistance within city limits. Under the measure, the city will notify known operators and the retailers hosting the machines, which must be removed within 45 days.
Councilor Stephanie Telles said 90% of crypto ATM transactions in the city are tied to scams, adding that high fees have limited legitimate use of the machines. Councilor Tammy Fiebelkorn said the instant, anonymous and irreversible nature of such transactions can be exploited by scam networks, organized crime and human traffickers.
The council said residents will still be allowed to hold, mine and transfer cryptocurrencies through online trading platforms and personal wallets. The report also noted that Indiana, Tennessee and Minnesota have already imposed statewide bans on similar devices. Bitcoin Depot, once the largest operator in North America, filed for bankruptcy in May, taking about 9,700 machines offline.
The Albuquerque City Council in New Mexico has approved an ordinance that bans cryptocurrency ATMs and virtual currency transactions carried out with over-the-counter assistance within city limits.
The city government will notify known operators and the retailers hosting the machines. The devices must be removed within 45 days.
Council members cited scams and high fees
City councilor Stephanie Telles said 90% of crypto ATM transactions in Albuquerque are linked to scams. She also said the machines see limited legitimate use because of their high fees.
Councilor Tammy Fiebelkorn said the transactions are instant, anonymous and irreversible, features that may be used by scam groups, organized crime and human traffickers.
Online platforms and personal wallets remain allowed
The city council said residents can still hold, mine and transfer cryptocurrencies through online trading platforms and personal wallets.
Broader state action and industry context
According to Decrypt, Indiana, Tennessee and Minnesota have already banned similar machines on a statewide basis. Bitcoin Depot, previously the largest operator in North America, filed for bankruptcy in May, putting about 9,700 machines offline.
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