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The first city in Washington completely bans Bitcoin ATMs due to rampant fraud
The city council #Spokane (state of Washington, USA) has unanimously voted to completely ban cryptocurrency kiosks, including Bitcoin ATMs, following a series of scams that resulted in billions of dollars in losses.
The ban affects approximately 50 active kiosks located in convenience stores, gas stations, Safeway supermarkets, and Walgreens chains. Operators have 60 days to dismantle them, or they will face fines and risk losing their business licenses.
This decision comes after Washington was one of the 10 states most heavily impacted by kiosk scams, with total losses amounting to $368 million. Spokane alone has recorded 3 suicides related to fraud involving machines #ATMcrypto .
According to the FBI, scammers often impersonate government agencies such as the IRS (Internal Revenue Service) or police, threatening the elderly and demanding that they load money onto Bitcoin kiosks to "protect their assets." The elderly account for up to 30% of national losses, despite making up only 17% of the population.
Spokane attempted to push for state-level regulation since late 2024 but was unsuccessful, forcing the city to take action on its own.
⚠️ Spokane's ban serves as a warning about the legal loopholes and risks that crypto kiosks can pose if not strictly regulated.
The city council #Spokane (state of Washington, USA) has unanimously voted to completely ban cryptocurrency kiosks, including Bitcoin ATMs, following a series of scams that resulted in billions of dollars in losses.
The ban affects approximately 50 active kiosks located in convenience stores, gas stations, Safeway supermarkets, and Walgreens chains. Operators have 60 days to dismantle them, or they will face fines and risk losing their business licenses.
This decision comes after Washington was one of the 10 states most heavily impacted by kiosk scams, with total losses amounting to $368 million. Spokane alone has recorded 3 suicides related to fraud involving machines #ATMcrypto .
According to the FBI, scammers often impersonate government agencies such as the IRS (Internal Revenue Service) or police, threatening the elderly and demanding that they load money onto Bitcoin kiosks to "protect their assets." The elderly account for up to 30% of national losses, despite making up only 17% of the population.
Spokane attempted to push for state-level regulation since late 2024 but was unsuccessful, forcing the city to take action on its own.
⚠️ Spokane's ban serves as a warning about the legal loopholes and risks that crypto kiosks can pose if not strictly regulated.
than 1,200 cryptocurrency ATMs across the United States mysteriously went offline during the first weekend of March, coinciding with the introduction of a new bill aimed at combating fraud in the sector.#MicroStrategy" #ATMcrypto #ATMTrading #update #Share_or_Quote_This_Post
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Strengthening Regulations on Crypto ATMs
#AUSTRAC , the financial transaction regulatory authority of Australia, has tightened regulations on cryptocurrency ATMs after noting an increase in fraudulent activities, particularly targeting users aged 60–70. This move, which includes denying licenses to ATM provider Harro’s Empires and limiting transactions to 5,000 USD, demonstrates a commitment to protecting users and promoting the sustainable development of the crypto market in the APAC region, where Australia is a key Web3 hub.
New data shows that individuals over 50 account for 72% of the transaction value through #ATMcrypto , with the 60–70 age group making up 29%. To mitigate risks, AUSTRAC requires enhanced customer verification and warning signs at ATMs. These measures not only protect users but also reinforce trust in blockchain platforms like BNB Chain, where DeFi and Web3 projects are thriving.
Currently, Australia has over 1,800 crypto ATMs, processing approximately 275 million USD in transactions each year, primarily in Bitcoin, Ethereum, and Tether. Strengthening regulations may promote transparent and legally compliant blockchain projects, creating opportunities for long-term investors.
Risk Warning: The information in this article is for reference only and does not constitute investment advice.
#AUSTRAC , the financial transaction regulatory authority of Australia, has tightened regulations on cryptocurrency ATMs after noting an increase in fraudulent activities, particularly targeting users aged 60–70. This move, which includes denying licenses to ATM provider Harro’s Empires and limiting transactions to 5,000 USD, demonstrates a commitment to protecting users and promoting the sustainable development of the crypto market in the APAC region, where Australia is a key Web3 hub.
New data shows that individuals over 50 account for 72% of the transaction value through #ATMcrypto , with the 60–70 age group making up 29%. To mitigate risks, AUSTRAC requires enhanced customer verification and warning signs at ATMs. These measures not only protect users but also reinforce trust in blockchain platforms like BNB Chain, where DeFi and Web3 projects are thriving.
Currently, Australia has over 1,800 crypto ATMs, processing approximately 275 million USD in transactions each year, primarily in Bitcoin, Ethereum, and Tether. Strengthening regulations may promote transparent and legally compliant blockchain projects, creating opportunities for long-term investors.
Risk Warning: The information in this article is for reference only and does not constitute investment advice.
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Australia Arrests Gang of Thieves Attacking Crypto ATMs and Collectible Cards
Australian police have just dismantled an organized crime gang specializing in targeting crypto ATMs and collectible card shops, arresting 4 suspects and seizing approximately 50,000 AUD (equivalent to 31,800 USD) along with many dangerous weapons.
Targeting Crypto ATMs and Collectible Cards
This gang is accused of attacking 6 ATMs in areas such as Hoppers Crossing, Bentleigh, Brunswick, Werribee, and Vermont. They also broke into collectible card shops in Epping, Moonee Ponds, and Eumemmerring since mid-January.
Targeting Crypto ATMs and Collectible Cards
This gang is accused of attacking 6 ATMs in areas such as Hoppers Crossing, Bentleigh, Brunswick, Werribee, and Vermont. They also broke into collectible card shops in Epping, Moonee Ponds, and Eumemmerring since mid-January.
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Crypto ATMs in Australia Under Close Scrutiny: Where is the Dirty Money Flowing?
On March 29, 2025, Australia's financial crime agency (AUSTRAC) issued a stern warning to cryptocurrency ATM providers, having detected that many machines may be exploited for money laundering and fraud. With over 1,648 crypto ATMs in Australia – the highest number in the Asia-Pacific region, will this move clean up the market or push the crypto industry into a difficult situation?
AUSTRAC Detects "Concerning Signs"
AUSTRAC Detects "Concerning Signs"
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