Mayor Tim Keller signs ordinance banning cryptocurrency ATMs in Albuquerque
Mayor Tim Keller on Friday signed legislation outlawing physical digital currency kiosks in Albuquerque. The measure bars virtual currency automated teller machines and cashier-facilitated transactions across city limits.
District 1 City Councilor Stephanie W. Telles and District 7 City Councilor Tammy Fiebelkorn sponsored the measure. The Albuquerque City Council approved the policy on Sept. 9.
“Scammers are constantly finding new ways to separate people from their money, and these kiosks have become another tool they can use,” Keller said in a news release. “We’re taking that tool off the table and putting protections in place for Albuquerque residents, especially those most often targeted by these schemes.”
Existing units in Albuquerque must be removed within 45 days of the effective date. Property owners and retailers cannot host them. Violations bring cumulative daily fines, license revocation and injunctive action.
These kiosks allow users to convert cash into digital currency. The machines frequently appear in coercive payment schemes. Impersonation scams also use the terminals.
City officials will notify known machine operators about the removal deadline. Albuquerque will also inform businesses hosting the units about the rules.
