Odaily News: According to data submitted by the FBI to the legislative committee, cryptocurrency kiosk-related losses in Texas in 2025 amounted to $56.8 million, involving 1,179 complaints, ranking first among all U.S. states. Nationwide complaints totaled 13,460, with reported losses increasing 58% year-over-year to $389 million.

Cryptocurrency kiosks accept cash and convert it into cryptocurrency, typically located at gas stations and convenience stores. Texas Tribune data shows approximately 4,000 such devices in Texas, with scammers诱导 victims to withdraw money from bank accounts and deposit it into the machines.

Jesse Saucillo, Deputy Commissioner of the Texas Department of Banking, stated that recovering funds after they have been transferred is nearly impossible, as funds typically flow to non-custodial wallets and then into mixers and other stages. He added that AI-generated impersonations of police and state agencies have made phone-based inducement more deceptive.

AARP data indicates that since 2023, approximately 30 U.S. states have enacted laws related to cryptocurrency kiosks. Indiana fully banned such devices in March, with Tennessee and Minnesota following suit. Texas House Committee Chairman Rep. Cole Hefner stated that the state will consider measures that go beyond regulatory scope.