Massachusetts Moves to Ban Crypto ATMs Amid Widespread Scams

Massachusetts is on the verge of regulating its crypto ATMs after a spate of scams left residents with significant financial losses. In 2025 alone, there were 296 complaints about scams involving these machines in Massachusetts, resulting in reported losses of $6,834,561.

The Massachusetts Senate has moved to ban these kiosks amid concerns over their unregulated nature. According to Norfolk County Sheriff Patrick McDermott, scammers often call or text people, urging them to convert their money into a cryptocurrency like Bitcoin. Once the victim deposits cash and inputs a QR code provided by the scammer, the funds are converted and sent to a digital wallet.

Massachusetts is currently the only New England state without specific regulations on crypto ATMs. Four other states have banned these kiosks altogether, while 28 others have some form of restrictions in place. Supporters of regulation argue that the industry's complexity makes it difficult to regulate effectively and that a ban would help prevent further losses.