![\"Minnesota](\"https:\/\/s3-images.ctmedia.io\/media\/article-covers\/hi-crypto-atm-ban.png\")
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State officials reported that Minnesota residents, and largely senior citizens, had lost about $1 million from scams tied to crypto kiosks from 2023 to 2025.<\/p>\n
A Minnesota law prohibiting virtual currency kiosks in the US state took effect on Saturday following the signing of a bill by Governor Tim Walz in May.\u00a0<\/p>\n
According to the law, SF 3868, which Walz signed on May 5, all crypto ATM operators in Minnesota are prohibited<\/a> from \u201cinstalling, operating, maintaining, or making available\u201d virtual currency kiosks. Companies with machines already installed must deactivate them by Saturday, but have until Dec. 31 to physically remove them from locations \u201cvisible or accessible to the public.\u201d<\/p>\n Minnesota\u2019s commerce department reported<\/a> residents had lost about $1 million from scams tied to crypto ATMs from 2023 to 2025, with the FBI\u2019s Internet Crime Complaint Center reporting<\/a> the state had more than $151 million in losses tied to digital assets or crypto wallets in 2025. Officials said that the schemes \u201cdisproportionately targets seniors\u201d and often involved situations where victims were pressured to quickly send money based on fake emergencies.<\/p>\n