Washington's second largest city, Spokane, bans cryptocurrency ATMs.

The city of Spokane ( in Washington, America ) has just become the first locality in the state to ban cryptocurrency ATMs in response to the increasing wave of fraud. The city council unanimously passed the ban proposed by Commissioner Paul Dillon, stating that crypto kiosks are a common tool of criminals to defraud the public, especially in low-income areas.

The current machines will be dismantled within 60 days, otherwise, they will be subjected to administrative penalties and their business licenses will be revoked. The police stated that the money from these kiosks is often transferred to countries like China, North Korea, and Russia. Criminals often impersonate government agencies to lure victims into buying crypto in order to "protect their money."

The FBI recorded nearly 11,000 cases of fraud related to crypto ATM in 2024, with losses exceeding 246 million USD, primarily targeting the elderly.

The second largest city in Washington, Spokane, bans cryptocurrency ATMs

HAI11.13%
ATM7.13%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)