Minnesota Bans Cryptocurrency Kiosks After Nearly $1M Stolen

The state of Minnesota has banned cryptocurrency kiosks after nearly $1 million was stolen from residents through sophisticated fraud schemes. The law, which takes effect on August 1, prohibits physical cryptocurrency kiosks in the state while allowing people to access digital currency through regulated online platforms.

The ban comes after the Minnesota Department of Commerce investigated 134 complaints involving cryptocurrency kiosks between 2023 and 2025. Minnesotans have reported losing nearly $1 million through these scams, which often involve scammers convincing victims that their bank accounts are at risk.

One victim, Sharon Fleming, unknowingly deposited thousands of dollars into cryptocurrency kiosks at multiple Twin Cities convenience stores after a scammer convinced her that her bank account was at risk. Like many victims, Fleming believed she was protecting her savings. However, she was actually transferring money directly to a criminal.

Critics of the kiosks argue that they are a powerful tool for scammers, allowing them to take and move a victim's money in a matter of minutes. The ban closes a major pathway for criminals to steal significant amounts of money from Minnesotans, according to BCA Superintendent Drew Evans.