Add as a preferred source on GoogleAlbuquerque Crypto ATM Ban Takes Effect With Potential $500 Daily Fines
Businesses must shut down the machines immediately and remove kiosks by Dec. 5. Residents may still own, mine and privately transfer cryptocurrency.
The city of Albuquerque, New Mexico, has barred businesses from operating or installing cryptocurrency ATMs under its virtual currency ordinance, requiring them to shut down machines immediately and remove them by Dec. 5.
Operators who violate the rule may face a $500 fine for each day of noncompliance, and their business licenses may be revoked. The deadline for physically removing the kiosks is Dec. 5.
The ordinance applies to businesses operating or installing the machines. Residents may still legally own cryptocurrency, mine it and transfer it privately.
Albuquerque’s action comes as other U.S. jurisdictions restrict crypto ATMs under different rules. Tennessee bars knowingly operating virtual currency kiosks, while Minnesota sets removal requirements; Hawaii bars cash-to-crypto transactions at kiosks.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.