Albuquerque Cracks Down on Crypto Kiosks Amid 90% Scam Rate

The Albuquerque city council has passed an ordinance banning cryptocurrency ATMs in the area due to concerns over their high rate of scams.

Council members cited a reported 90% fraud rate in transactions at these kiosks, which they believe pose a significant risk to consumers, particularly the elderly.

Operators have been given 45 days to remove their machines from Albuquerque streets, with the ban targeting physical crypto kiosks only and not affecting personal ownership or online trading.