Effective August 1, Minnesota's Cryptocurrency ATM Ban Takes Effect

Odaily News: A new Minnesota state law banning cryptocurrency ATMs will take effect on August 1. These ATMs must be taken offline by August 1 and physically removed from stores by the end of the year. At the time the bill was passed, there were approximately 350 licensed cryptocurrency ATMs across the state, operated by 8 companies. The state's Department of Commerce stated that between 2023 and 2025, it investigated 134 complaints involving crypto ATMs, resulting in losses of nearly $1 million for Minnesota residents. Law enforcement noted that these transactions often flow overseas and are difficult to trace. After the ban takes effect, residents can still conduct cryptocurrency transactions through regulated online platforms.