Minnesota crypto ATM ban takes effect after $1M in senior scams
A new law took effect in Minnesota on Saturday that wipes out an entire category of machines many residents have used to buy Bitcoin and other digital assets. The Minnesota crypto ATM ban arrives after state officials tied roughly $1 million in scam losses to crypto kiosks between 2023 and 2025, with senior citizens bearing the brunt of the fraud.
Key takeaways
- Minnesota’s ban on virtual currency kiosks took effect August 1, 2026, under bill SF 3868, signed by Governor Tim Walz on May 5, 2026.
- Operators must deactivate machines by August 1 and physically remove them from public locations by December 31, 2026.
- State officials linked about $1 million in scam losses to crypto ATMs from 2023 to 2025, disproportionately affecting seniors.
- The FBI’s Internet Crime Complaint Center reported more than $151 million in Minnesota losses tied to crypto or crypto wallets in 2025 alone.
- CoinATMRadar counted 201 crypto ATMs and kiosks operating across Minnesota just before the ban took hold.
Minnesota Implements Statewide Ban on Crypto ATMs
Minnesota has become the latest state to pull the plug on virtual currency kiosks entirely, rather than simply regulating how they operate. The prohibition means no company can install, operate, maintain, or make available a crypto ATM anywhere in the state going forward, closing off a channel that fraud investigators say has become a favorite tool for scammers targeting vulnerable residents.
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