Minnesota Kiosks Convert Cash to Crypto Banned Amid Scam Concerns
A new law prohibiting cryptocurrency kiosks in Minnesota has taken effect, requiring the machines to go offline by August 1 and be removed from stores by the end of the year.
The state's Attorney General's Office worked with local authorities to push for stronger protections against scammers who used these machines to manipulate people into depositing large sums of cash, which could then be transferred to the scammer in cryptocurrency.
According to a news release from the Rochester Police Department, numerous reports were investigated involving individuals being scammed out of thousands of dollars after using these kiosks.
The police are reminding the public that legitimate organizations will not direct people to pay with cryptocurrency to resolve an emergency or avoid arrest.