Minnesota crypto ATM ban goes into effect after reported $1M losses

CryptoInfo Editorial Team · Published on August 01, 2026 at 18:07 · Updated on August 01, 2026 · 1 min read

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Key Takeaways

→Minnesota has banned crypto ATMs due to reported scams
→Residents lost around $1 million from scams tied to crypto kiosks from 2023 to 2025
→Senior citizens were largely targeted by these scams

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

A ban on crypto ATMs has gone into effect in Minnesota, based on reporting from CoinTelegraph. This comes after state officials reported that Minnesota residents, largely senior citizens, had lost about $1 million from scams tied to crypto kiosks from 2023 to 2025.

The ban aims to protect residents from further losses due to these scams. Crypto ATMs, also known as crypto kiosks, allow users to buy or sell cryptocurrencies using cash.

Source: CoinTelegraph ↗