The Albuquerque City Council passed an ordinance on September 9 banning virtual currency ATMs and cashier-facilitated cryptocurrency transactions within city limits, according to KRQE.
The measure, co-sponsored by Councilors Stephanie Telles and Tammy Fiebelkorn, targets crypto kiosks that city officials say can facilitate fraud and other criminal activity. It particularly focuses on scams that pressure victims into transferring funds through difficult-to-reverse crypto transactions, with elderly residents identified as frequent targets. Councilor Telles stated that 90% of crypto ATM transactions in Albuquerque are used to commit fraud and scams.
Operators are being given 45 days to remove their machines. Businesses that continue hosting prohibited kiosks could face enforcement measures once the compliance timeline takes effect.
The ordinance does not amount to a broader ban on cryptocurrency ownership or lawful digital asset activity outside the prohibited kiosk and cashier-assisted transactions. The immediate focus now shifts to implementation of the 45-day removal requirement and enforcement against operators or locations that fail to comply.
