Newburyport Considers Banning Cryptocurrency ATMs Over Elderly Scam Targets

Newburyport City Council is considering banning cryptocurrency ATMs in the city due to concerns about scammers targeting older residents.

Councilor-at-Large Edward Cameron Jr. co-sponsored Ordinance 230, which would prohibit the installation and operation of Bitcoin ATMs, BTMs, or virtual currency kiosks in the city.

According to Cameron, scammers often pose as bank representatives and pressure victims over the phone to deposit money into these machines, which are difficult for police to track due to their anonymous nature.

Newburyport has eight Bitcoin ATMs that it does not license, and there have been reports of scams targeting older residents in Massachusetts. Cameron mentioned that a statewide ban is unlikely to happen anytime soon.