Wisconsin's Crypto ATM Regulations Struggle to Keep Pace with Scammers

Crypto ATM scams have plagued Wisconsin, with victims losing significant sums of money. In 2025, a Dodge County woman lost $200,000, while a victim in Ozaukee County lost over $98,000 in 19 transactions. A Milwaukee County resident lost $114,000, a Dane County consumer reported losing $135,000, and a Walworth County victim reported a loss totaling $400,000.

Wisconsin's lawmakers have taken steps to address the issue. Sen. Jesse James, R-Thorp, co-authored legislation that restricts daily transactions to $1,000, requires receipts after each transaction, and mandates consumer identification. The law also offers refunds to victims.

The new law has already shown promise in reducing scam complaints. However, some critics argue that it does not go far enough, citing the fact that Wisconsin opted not to ban crypto ATMs completely.

According to AARP Wisconsin's state director, Raj Shukla, scammers disproportionately target older adults, with 86% of losses from crypto ATM scams involving Americans over the age of 60.