Hawaii Sets October Deadline for Crypto ATM Ban
Hawaii will ban the operation of cryptocurrency ATMs and kiosks starting October 1. The law, signed by Governor Josh Green in July, prohibits the ownership, operation, and management of digital financial asset transaction kiosks that accept US dollars and dispense cryptocurrencies.
The move is part of a broader legislative trend in the US, with several states imposing full bans or strict regulatory standards on crypto ATMs. Minnesota, Tennessee, and Indiana have already implemented similar measures, while Delaware and New Jersey are pursuing similar bills.
Hawaii's ban is driven by concerns over fraud losses, with Americans losing more than $11 billion to crypto-related scams in 2022, according to the FBI's Internet Crime Complaint Center. In Hawaii alone, residents filed 826 complaints that year, with losses totaling about $80 million.