Tennessee Police Crack Down on Cryptocurrency ATMs

Murfreesboro police conducted a sweep of local businesses to ensure compliance with Tennessee's new law banning cryptocurrency ATMs, which took effect on July 1. The law makes it a Class A misdemeanor to install, operate or allow a cryptocurrency ATM to function in the state.

According to Sgt. Tommy Massey, the sweep came after scammers used cryptocurrency ATMs to steal nearly $4.1 million from Murfreesboro victims over a six-month period. Since the new law took effect, the Murfreesboro Police Department has seen a significant decrease in scam reports involving cryptocurrency.

Businesses found to be operating cryptocurrency ATMs have either removed or unplugged them and are waiting for pickup. The police department is warning residents not to let their guards down, as scammers will likely find other ways to take hard-earned money.