Minnesota introduces bill to ban crypto kiosks statewide amid surge in scams targeting seniors

Source

Uk Jin

Summary

Minnesota has introduced bill “HF 3642” to impose a statewide ban on the installation and operation of virtual asset kiosks.
The bill would repeal regulatory provisions related to virtual asset kiosks established in 2024 and halt a market of roughly 350 machines.
Minnesota’s Department of Commerce strongly backed the bill, citing 70 kiosk-related complaints last year and reported losses of $540,000.

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A bill has been introduced in the U.S. state of Minnesota to ban virtual asset (cryptocurrency) kiosks statewide.

According to The Block on the 27th (KST), State Rep. Erin Koegel introduced bill “HF 3642,” which would impose a blanket ban on “virtual asset kiosks.” The bill would prohibit the installation and operation of virtual asset kiosks in the state and repeal related regulatory provisions established in 2024.

Minnesota currently has about 350 virtual asset kiosks installed.

At a hearing of the House Commerce and Finance Policy Committee, Rep. Koegel said, “Kiosks are being abused as a key tool for fraud targeting vulnerable groups.”

Local police said one elderly victim sent Bitcoin (BTC) at least 10 times over six months, reportedly losing about half of their monthly income.

Minnesota’s Department of Commerce also said it “strongly supports” the bill. The department said that last year it received 70 kiosk-related complaints, with reported losses totaling $540,000.