Minnesota Crypto ATM Ban Goes into Effect After Reported $1M Losses

Under a Minnesota law, crypto ATM operators had until Aug. 1 to deactivate any machines accessible to the public, but have until Dec. 31 to physically remove them.

Minnesota Crypto ATM Ban Goes into Effect After Reported $1M Losses

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Written by

Turner Wright

staff writer

Reviewed by

Robert Lakin

staff editor

Written by

Turner Wright

staff writer

Reviewed by

Robert Lakin

staff editor

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

Latest News

Published

Aug 1, 2026

State officials reported that Minnesota residents, and largely senior citizens, had lost about $1 million from scams tied to crypto kiosks from 2023 to 2025.

A Minnesota law prohibiting virtual currency kiosks in the US state took effect on Saturday following the signing of a bill by Governor Tim Walz in May.

According to the law, SF 3868, which Walz signed on May 5, all crypto ATM operators in Minnesota are

prohibited

from “installing, operating, maintaining, or making available” virtual currency kiosks. Companies with machines already installed must deactivate them by Saturday, but have until Dec. 31 to physically remove them from locations “visible or accessible to the public.”

Minnesota’s commerce department

reported

residents had lost about $1 million from scams tied to crypto ATMs from 2023 to 2025, with the FBI’s Internet Crime Complaint Center

reporting

the state had more than $151 million in losses tied to digital assets or crypto wallets in 2025. Officials said that the schemes “disproportionately targets seniors” and often involved situations where victims were pressured to quickly send money based on fake emergencies.

The ban on kiosks allowing users to purchase Bitcoin (BTC) and other cryptocurrencies is just one of many measures US states are considering in response to fraudulent activity. Tennessee began enforcing a total ban on the machines on July 1, a Georgia law requiring transaction limits and other restrictions went into effect the same day and Delaware and New Jersey lawmakers have advanced bills proposing similar measures.

Data from CoinATMRadar

showed

that there were 201 crypto ATMs and kiosks operating in Minnesota before the statewide ban took effect on Aug. 1.

Related:

Crypto ATM bans, restrictions now in effect in Tennessee and Georgia

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