Minnesota to Ban Crypto ATMs Statewide From Aug. 1
Doohyun Hwang
Summary
- Minnesota said a new law imposing a statewide ban on crypto ATMs will take effect on Aug. 1.
- Under the new law, all crypto ATMs in Minnesota must halt operations immediately and be removed physically by the end of 2026.
- The move follows the misuse of crypto ATMs in financial fraud, while residents can continue crypto trading through regulated online platforms and exchanges.
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Minnesota's new law banning cryptocurrency automated teller machines statewide will take effect on Aug. 1.
All crypto ATMs in the state must cease operations immediately that day, CBS News reported on July 31. The machines must also be removed from stores and other locations by the end of 2026.
The measure follows growing losses tied to financial fraud involving crypto ATMs. The Minnesota Department of Commerce said authorities investigated 134 complaints related to the machines from 2023 to 2025, with resident losses reaching about $1 million.
The ban applies only to physical machines. Minnesota residents can still trade cryptocurrencies through regulated online platforms and exchanges.
Doohyun Hwang
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