Albuquerque City Council passes ban, Bitcoin ATM operators must remove devices within 45 days
Odaily News: The Albuquerque City Council in New Mexico, USA, passed an ordinance prohibiting cryptocurrency ATM and counter-assisted virtual currency transactions within the city limits. The city government will notify known operators and retailers where the devices are located, and the relevant devices must be removed within 45 days.
Albuquerque City Councilor Stephanie Telles stated that 90% of cryptocurrency ATM transactions in the city are related to fraud, and noted that high fees make legitimate users less likely to use such devices. Councilor Tammy Fiebelkorn pointed out that these transactions are instant, anonymous, and irreversible, characteristics that could be exploited by fraud rings, organized crime, and human traffickers.
The City Council stated that residents can still hold, mine, and transfer cryptocurrency through online trading platforms and personal wallets. Indiana, Tennessee, and Minnesota have already banned related devices statewide; North America's once-largest operator, Bitcoin Depot, filed for bankruptcy in May and took approximately 9,700 devices offline. (Decrypt)
