Minnesota Bans Cryptocurrency Kiosks Amid Rising Scam Losses

• •Minnesota has banned cryptocurrency kiosks to combat rising scam losses.
• •In 2025, over $388 million was lost to scams involving crypto ATMs, primarily affecting older adults.
• •The FBI reported a 58% increase in losses from crypto ATM scams compared to 2024.

Minnesota has enacted a statewide ban on cryptocurrency kiosks following significant financial losses attributed to scams using these machines. In 2025, Americans lost over $388 million to such scams, with more than half of the victims being individuals over 50. The FBI reported a 58% increase in losses from the previous year, highlighting the urgency of the issue. Lawmakers, supported by AARP volunteers, recognized the need for stronger consumer protections after numerous testimonies from victims. The ban aims to prevent further exploitation of vulnerable populations, particularly older adults, who are disproportionately affected by these scams. Similar legislative actions have occurred in Indiana and Tennessee earlier in 2026. The FBI has warned the public about the increasing sophistication of these scams, which often involve detailed instructions from criminals on how to use the kiosks.