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. Albuquerques 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 longer physically exchange cash for crypto within the city. However, the ban changes nothing about their online crypto activities, including trading and ownership. The ban means that crypto users can no longer use Bitcoin ATMs located in local convenience stores, laundromats, or gas stations. The city has mandated that crypto ATM owners unplug and remove them from these locations. Landlords and business owners who fail to comply by removing the machines from their









