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BTC City of Albuquerque bans domestic cryptocurrency automated teller machine operations
The Albuquerque City Council passed a decree on Wednesday formally banning the operation of cryptocurrency automated teller machines (ATMs) within the city. The decree not only covers self-service transactions with machines, but also covers virtual currency transactions assisted by cashiers.
According to regulations, the city government will notify known operators and retailers that provide space for machine placement and require them to remove the equipment within 45 days.
1st District Councilman Stephanie Towers co-proposed the measure with 7th District Councilman Tammy Fibelkorn. Teres said in a press release that 90% of cryptocurrency ATM transactions in Albuquerque are linked to fraud. "Anyone who legally converts or transfers virtual currency will not use these self-service terminals because the high fees make them equivalent to extortion." She pointed out that because such transactions are immediate, anonymous and irreversible, they are mainly used by "scammers, organized criminal groups and human traffickers."
Feibelcohn added: "We cannot wait and wait for federal regulators to resolve this crisis while our residents become targets and victims in their own communities."
The City Council emphasized that citizens can still freely own, mine and transfer cryptocurrencies through online exchanges and personal wallets, and this ban does not affect legal private possession.
The city of Albuquerque's move follows multiple injunctions across the country. Indiana took the lead in implementing the ban in March this year, Tennessee followed suit in July, and Minnesota's spring ban took effect in August. In addition, Delaware has advanced relevant bills, New Jersey is considering similar legislation, and Texas lawmakers are weighing whether to introduce a ban after a self-service terminal fraud case in the state cost residents up to $57 million.
Industry giants have also been hit. Bitcoin Depot, once the largest operator in North America, filed for Chapter 11 bankruptcy protection in May this year and rolled off approximately 9700 self-service terminals. Chief executive Alex Holmes said the move was due to trading limit limits and "outright restrictions or bans faced in certain jurisdictions."
Although the 90% ratio mentioned by Teles is too high, it is not an isolated case. Last year, the Washington, D.C. Attorney General filed a lawsuit against Athena Bitcoin and found that 93% of the deposits made in the city's seven self-service terminals over a five-month period resulted from fraud, with the median age of the victims as high as 71. Athena strongly opposed this. According to statistics from the Federal Bureau of Investigation (FBI), nearly 11,000 self-service terminal fraud complaints were recorded in 2024, involving more than US$246 million.
