All articles tagged with #crypto atms
Tennessee signed House Bill 2505, making it illegal to own or operate Bitcoin and other crypto ATMs, with violations classified as a Class A misdemeanor. The ban, set to take effect July 1, 2026, makes Tennessee the second state after Indiana to outlaw these kiosks. There are about 651 crypto ATMs in the state, many clustered around Nashville, and supporters say the move aims to curb scams targeting seniors.
Minnesota lawmakers, with law enforcement and the Department of Commerce, introduced HF3642 to ban crypto ATMs that accept cash and debit cards after 70 fraud complaints totaling more than $540,000 in 2025, including a case where an elderly resident reportedly gave half her monthly income to scammers; supporters say refunds are limited (about 48% of complaints) and fraud remains a problem, while crypto platforms argue existing safeguards should suffice.
CNN Investigates reveals widespread fraud linked to a single crypto ATM, highlighting how scammers exploit these machines to defraud victims, with law enforcement and regulatory efforts struggling to keep up with the scale of the problem.
Pepecoin (PEPE), a new token based on the "pepe the frog" meme, has reached a $1 billion market capitalization after debuting last month, with other meme tokens also seeing increased trading activity. The UK's Financial Conduct Authority (FCA) has continued its crackdown on unlawful crypto ATMs, inspecting sites in Exeter, Nottingham, and Sheffield. Crypto exchange Coinbase reported Q1 revenue of $773 million, exceeding analysts' estimates, and trading volume came in at $145 billion. Gold is looking to break out of its three-year trading range, which could bode well for bitcoin, according to Matrixport.