Albuquerque Targets Cryptocurrency ATMs Amid Growing Scam Concerns
Councilor Stephanie Telles is pushing to ban cryptocurrency ATMs in Albuquerque to protect residents from financial scams. These machines have become a favored tool for scammers who impersonate 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. Businesses that host the kiosks or operators who fail to comply could face daily fines and the loss of their business licenses.
Telles said New Mexico reported $86.6 million in cryptocurrency fraud losses in 2025, with 53% of those cases involving elderly victims. She believes the true impact is likely higher due to unreported cases.
If the measure passes, Albuquerque will join cities like Spokane and Layton in pulling the plug on these machines for good. The proposed ordinance sits in the Finance and Government Operations Committee, which meets again August 10.