ABQ Seeks to Ban Cryptocurrency Kiosks Amid Scam Concerns

Albuquerque City Councilor Stephanie Telles has proposed an ordinance to ban cryptocurrency ATMs and cashier-assisted transactions in the city. The move aims to protect residents from financial scams, particularly targeting seniors.

Telles cited a report that New Mexico experienced $86.6 million in cryptocurrency fraud losses in 2025, with 53% of those cases involving elderly victims. She attributed this trend to scammers impersonating government officials, bank representatives, police officers, and tech-support workers to pressure victims into depositing cash.

The proposed ordinance would require operators to shut down and remove existing machines within 45 days of the law taking effect, with businesses that host kiosks or fail to comply facing daily fines and potential loss of their business licenses.