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Minnesota crypto ATM ban takes effect after $1 million in reported scam losses

MINNEAPOLIS, Aug. 1. Minnesota's ban on cryptocurrency ATMs is now in force, following state officials' report that residents lost about $1 million to scams tied to crypto kiosks from 2023 to 2025. Senior citizens made up a disproportionate share of those losses, officials said.

By Simone Attah2 min readNVDAAAPLTSLA
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Key takeaways

  • Minnesota's statewide ban on cryptocurrency ATMs took effect on Aug. 1, 2026.
  • State officials reported that residents lost about $1 million to scams tied to crypto kiosks from 2023 to 2025.
  • Senior citizens accounted for a disproportionate share of those reported losses.
  • The officials' report included no breakdown by victim count, transaction volume, or scam type.
  • The state released no additional detail on how it will enforce the ban against existing kiosks.

MINNEAPOLIS, Aug. 1. Minnesota's ban on cryptocurrency ATMs is now in force, following state officials' report that residents lost about $1 million to scams tied to crypto kiosks from 2023 to 2025. Senior citizens made up a disproportionate share of those losses, officials said.

Losses tied to kiosk scams

State officials documented roughly $1 million in losses from scams run through crypto ATMs over the two-year span. Older residents bore a significant portion of that total. The officials' report carried no breakdown by victim count, transaction volume, or scam type.

Ban enters force

Minnesota's prohibition on crypto kiosks is active statewide. Officials moved against the machines after the documented pattern of consumer harm. The state released no additional detail on enforcement against existing units.

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Frequently asked

Why did Minnesota ban cryptocurrency ATMs?

Officials imposed the ban after documenting roughly $1 million in scam losses tied to crypto kiosks between 2023 and 2025, a pattern of consumer harm.

How much did Minnesota residents reportedly lose to crypto kiosk scams?

State officials documented about $1 million in losses over the two-year span from 2023 to 2025.

Who was most affected by the crypto ATM scams?

Senior citizens made up a disproportionate share of the reported losses, according to officials.

When did the crypto ATM ban take effect?

The prohibition is active statewide as of Aug. 1, 2026.

Did officials specify how many people were scammed?

No; the report carried no breakdown by victim count, transaction volume, or scam type.