Minnesota bans crypto ATMs after residents lose $1M to kiosk scams

Minnesota's ban on cryptocurrency ATMs has taken effect following reports that residents — predominantly senior citizens — lost approximately $1 million to scams linked to crypto kiosks between 2023 and 2025. State officials cited the disproportionate targeting of elderly people as a key driver of the legislation. The move makes Minnesota one of the first U.S. states to enact such a blanket ban.