Albuquerque Bans Crypto ATMs and Counter-Assisted Virtual Currency Trades

Albuquerque City Council in New Mexico has passed an ordinance banning crypto ATMs and counter-assisted virtual currency transactions in the city, requiring operators to remove the machines within 45 days. According to Foresight News, local lawmakers said 90% of crypto ATM transactions in the city are linked to fraud and are mainly used by scammers, organized crime groups, and human traffickers. Indiana, Tennessee, and Minnesota have already enacted similar bans statewide. North America's largest operator, Bitcoin Depot, filed for bankruptcy in May and shut down about 9,700 machines.