Minnesota Proposes Statewide Ban on Cryptocurrency ATMs

Odaily News Minnesota lawmakers have introduced a bill proposing a statewide ban on cryptocurrency automated teller machines (crypto ATMs), marking one of the most stringent regulatory measures against such devices in the United States.

House File 3642, introduced by DFL Representative Erin Koegel on February 23, 2026, aims to prohibit the "placement or operation of a virtual currency automated teller machine" anywhere in Minnesota and would repeal the existing regulatory framework established in 2024.

The proposal has garnered support from law enforcement and consumer advocacy groups, who point out that these devices have become a primary tool for scammers, particularly in "pig butchering" scams targeting the elderly. The Minnesota Department of Commerce strongly supports the bill, arguing that existing safeguards are ineffective against sophisticated fraud. The bill must pass the state House and Senate before being sent to the governor for signature. The Minnesota legislative session runs through May 2026. (Ibtimes)