Minnesota is one signature away from becoming the third state in the country to ban cryptocurrency kiosks, after the state legislature passed a bill targeting the ATM-like machines that law enforcement says have become magnets for fraud targeting elderly residents.
The Minnesota House passed SF 3868 by a lopsided 127-7 margin, sending it to Governor Tim Walz. The Senate had already approved it earlier. If Walz signs it, Minnesota joins Indiana and Tennessee as the only U.S. states to have outlawed crypto kiosks entirely.
Why Ban Them?
Crypto kiosks look and work a lot like ATMs. You walk up, put in cash, and the machine sends cryptocurrency to a wallet address. They're scattered across gas stations, convenience stores, and grocery stores - often in neighborhoods with older populations who may be less familiar with how crypto works.
That accessibility is the problem. Scammers use them as a near-untraceable cash-out mechanism. A fraud...
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