Easthampton Bans Crypto ATMs Amid Rising Fraud Concerns
The Easthampton City Council in Massachusetts has unanimously voted to ban cryptocurrency ATMs within the municipality, citing rising concerns over fraud and scams targeting senior citizens and vulnerable populations.
The ordinance prohibits any person, business, or entity from hosting, installing, operating, maintaining, or permitting the installation or operation of a cryptocurrency ATM within Easthampton's geographic boundaries.
Councilor James Kwiecinski highlighted the emotional and psychological strain these financial scams place on residents, while local law enforcement officers have encountered issues stemming from the kiosks.
The ban aims to safeguard community members from fraudulent schemes and has been met with both support and mixed feelings from Easthampton residents. The ordinance requires all cryptocurrency ATMs to be removed within 30 days after its effective date, with a fine of $300 per day per device for those that continue to operate or host them.