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Spokane Bans Crypto ATMs After Crime Surge
In a bold move to combat the growing problem of cryptocurrency-related fraud, Spokane City Council has unanimously approved an ordinance banning all cryptocurrency automated teller machines (ATMs) in the city. The ban comes on the heels of a surge in crime cases, with authorities linking the rise in fraud to the proliferation of these kiosks.
The new law requires businesses operating crypto ATMs in the city to remove their machines within 60 days and prohibits any future installations. This unprecedented move is expected to have far-reaching implications for the cryptocurrency industry, particularly in Washington state where losses exceeding $140 million were reported in 2024 alone.
City officials and law enforcement agencies have been tracking a disturbing pattern of scams targeting vulnerable residents, particularly the elderly and low-income communities. The scammers, posing as government agents or law enforcement officers, would convince their victims to transfer funds into cryptocurrency accounts using the ATMs. By the time the money is converted, it’s too late for the victim to recover their loss.
“This ordinance will protect our most vulnerable residents from scams involving virtual currency kiosks,” said Council Member Paul Dillon, who co-sponsored the legislation with Council President Betsy Wilkerson. “We are proud to be the first city in Washington state to take this bold step.”
The ban comes as part of a growing national conversation about how to curb cryptocurrency-related fraud. According to FBI data, nearly 11,000 Americans filed complaints involving cryptocurrency ATMs in 2024, resulting in losses exceeding $246 million.
While some have questioned the effectiveness of such an extreme measure, law enforcement officials remain optimistic that the ban will make it harder for scammers to operate. The city council’s decision sets a precedent for other cities and states to consider similar measures to combat this growing problem.
Source: fullycrypto.com
