Ban on Cryptocurrency ATMs in Minnesota Took Effect on August 1

The ban on cryptocurrency ATMs came into effect in Minnesota on August 1. Operators must cease operations through such devices and remove the machines from public places by December 31. It is prohibited to process transfers, purchase, or sell digital assets through cryptocurrency ATMs. If operators continue to use them, the Minnesota Department of Commerce threatens administrative fines. Residents are urged to report any functioning devices. The law does not prohibit citizens from buying, selling, or storing digital assets through legal online services. The main reason for the ban is the increase in damage from cryptocurrency fraud: over the past three years, residents of Minnesota have lost nearly $1 million, and 134 complaints about scams involving cryptocurrency ATMs have been registered from 2023 to 2025. The bill was initiated by Senator Amanda Hemmingsen-Yeager, who was supported by the Senate in April. Governor Tim Walz signed the document in May. The ban does not mean a complete rejection of regulating the crypto infrastructure: authorities have allowed registered banks to store clients' digital assets, but trading cryptocurrencies and crypto lending remain prohibited.

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