Albuquerque, New Mexico, has banned Bitcoin ATMs and cryptocurrency transactions assisted by a cashier. The Virtual Currency Ordinance, adopted 6-3 on September 9 and effective October 21, requires operators to remove the machines within 45 days. The city may impose daily fines, revoke licenses and take other enforcement action against noncompliant businesses. According to Mayor Tim Keller, scammers use these kiosks to target vulnerable people, especially older adults. The FBI has received more than 13,400 complaints related to cryptocurrency kiosks, with more than half coming from people over the age of 50.
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Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
