Albuquerque City Bans Bitcoin ATMs, Operators Must Remove Equipment Within 45 Days

The Albuquerque City Council in New Mexico has passed an ordinance banning cryptocurrency ATMs and counter-assisted virtual currency transactions within the city. Operators are required to remove their equipment within 45 days. Local council members stated that 90% of cryptocurrency ATM transactions in the city are related to fraud, primarily exploited by scammers, organized crime groups, and human traffickers. Previously, similar bans have been enacted statewide in Indiana, Tennessee, and Minnesota. Bitcoin Depot, the largest operator in North America, filed for bankruptcy in May, shutting down approximately 9,700 machines.

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