Albuquerque Passes Ordinance Banning Cryptocurrency ATMs

Albuquerque’s City Council has approved an ordinance prohibiting cryptocurrency ATMs and cashier-facilitated cryptocurrency transaction services within city limits, citing concerns about fraud and consumer protection.

Ordinance Targets Crypto Kiosks and In-Person Services

The measure, identified as O-26-49 and titled the “Virtual Currency Ordinance,” was passed on September 10. It bans the operation of cryptocurrency ATMs and services in which cashiers facilitate cryptocurrency transactions in Albuquerque.

Cryptocurrency ATMs, also known as Bitcoin ATMs, allow users to buy or sell digital assets using cash or payment cards. Consumer-protection agencies have warned that these machines can be used in scams because transactions are often difficult to reverse.

Councilor Cites Fraud Concerns

Councilor Stephanie W. Telles, a co-sponsor of the ordinance, said that 90% of cryptocurrency ATM and related transactions in Albuquerque were connected to fraud. The statement was presented as a key justification for the ban.

The ordinance reflects growing scrutiny of crypto kiosks by local authorities, particularly over their use in schemes that pressure victims to send cryptocurrency to fraudsters. Once completed, these transactions can be difficult to recover.

Local Restrictions on Cryptocurrency Services

Albuquerque’s action adds to a broader debate over how cities should regulate cryptocurrency-related businesses. While cryptocurrency itself remains available through online exchanges and other platforms, the ordinance specifically targets physical kiosks and cashier-assisted transaction services operating within the city.