San Diego Proposes Warning Signs for Crypto ATMs to Combat Senior Scams

San Diego City Council President Joe LaCava has proposed an ordinance to require warning signs on cryptocurrency ATMs, aimed at preventing scams targeting senior citizens. According to LaCava, these scams often involve scammers persuading victims to deposit cash into the machines, making it difficult or impossible to recover the funds.

State data cited by LaCava show 111 cryptocurrency ATMs operating at 75 locations across San Diego, with nearly half of those machines located at Safeway and Albertsons stores. However, a visit to a College Area location listed in the dataset found no ATM, suggesting the actual number of machines could be higher.

Under the proposed ordinance, operators would be required to post warning signs informing customers about common scams and directing them to a city website with fraud-prevention information and reporting resources. The measure was unanimously approved by a council committee on Wednesday.