Alabama Cracks Down on Cryptocurrency Scams with New Regulations

A new law in Alabama aims to crack down on cryptocurrency fraud by setting transaction limits and requiring enhanced disclosures at kiosks or ATMs.

The Alabama Securities Commission reports that cryptocurrency scams have already cost Alabama consumers millions of dollars in 2026, with hundreds of reports received from law enforcement agencies in the past few months.

'Once the money's transmitted, the likelihood of recovery is slim to none,' said Amanda Senn, director of the Alabama Securities Commission.

The new regulations also include identification verification and additional questions for Alabamians older than 60 to ensure that transactions are legitimate.