Spokane Shuts Down Crypto ATMs as Scam Losses Spiral Out of Control!

Updated

June 19, 2025

Gambar Spokane Shuts Down Crypto ATMs as Scam Losses Spiral Out of Control!

Jakarta, Pintu News – The city of Spokane, Washington, has taken the drastic step of banning the use of crypto ATMs across the city. This decision was made after the city council unanimously decided that these machines are often used as a means of fraud.

With over 40 crypto ATMs registered prior to this policy, Spokane became the first city in Washington to implement such a ban.

This measure is expected to protect citizens from significant financial losses.

The Reason Behind the New Policy

The Spokane City Council, with the full support of its council members and council president, has identified crypto ATMs as a key tool in scams targeting citizens.

According to an FBI report, crypto ATM fraud has caused more than $246 million in losses across the United States by 2024. In Spokane, although no specific data was released, it is estimated that the losses also reached a significant figure.

Scammers often pose as law enforcement or tax officials to manipulate victims into converting their cash into crypto, under the pretext of protecting funds or avoiding arrest.

Unfortunately, once the transaction is complete, the money is often already non-refundable. This move is expected to cut off one of the main routes of fraud that harms citizens.

Expected Reaction and Impact

atm crypto regulation north dakota — Generated by AI

Reactions to this policy have been mixed, but many support this preventative measure as a way to protect vulnerable citizens. The Spokane Police Department will monitor compliance with this ban and report on its impact on fraud-related crime rates.

In addition, this move is also expected to set an example for other cities in Washington and across the United States to evaluate the safety of crypto ATMs in their areas.

However, there are still unanswered questions regarding the implementation of this ban, especially with regards to ATMs that have both crypto and fiat functionality.

Should they be removed completely or just disable their crypto features? The answer to this question will largely determine the effectiveness of the ban in reducing crypto crime.

Similar Measures in Other States

Spokane is not the only one taking action against crypto ATMs. In other states like North Dakota and Nebraska, new laws have also been introduced to more strictly regulate crypto ATM operations.

For example, North Dakota is considering a daily transaction limit of $2,000, while Nebraska has implemented an 18% fee cap and a daily transaction limit for new users.

These measures demonstrate a growing trend in the United States, where local and state governments are increasing oversight of virtual currency kiosks to protect consumers from exploitation and fraud.

With growing concerns over crypto security, these regulatory measures are expected to help prevent further financial losses in the future.

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