Washington Enacts First Crypto ATM Ban in Spokane
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Spokane is Washington’s first city to ban crypto ATMs. Ordinance addresses $141M in state scam losses in 2023. Elderly residents are frequent targets of crypto scams. On June 17, 2022, the Spokane City Council unanimously voted to prohibit the use of crypto ATMs in the city, becoming the first city in Washington to single out these devices. The ordinance, called the Virtual Currency Kiosk Prohibition Toward a Safer Spokane, addresses the growing fraud linked to these machines. Within 60 days, officials will require operators to remove about 50 kiosks or face fines and possible revocation of their business licenses. Cryptocurrency fraud caused severe financial losses, prompting officials to make the move. In 2023, the FBI recorded losses of crypto ATM scams around the country, amounting to a total of $5.6 billion, with residents of the state of Washington having lost more than 141 million dollars. The city of Spokane has been experiencing a steady increase in the number of victims who have lost thousands of dollars to the fraudulent business carried out in these kiosks, mostly found in gas stations and convenience stores. Council Member Paul Dillon, who co-sponsored the ordinance with Council President Betsy Wilkerson, stated that he meant it to serve a protective purpose. In Dillon’s view, this will safeguard disadvantaged locals against financial fraud via the use of digital currency kiosks. The law aims to protect low-income or elderly groups, who are common targets of fraud. Rising Scams Prompt Swift Action Crypto ATMs are just like conventional ATMs, as they have virtual transactions that are made using the currency rather than cash. Scammers, pretending to be government officials, use these machines to force victims to make payments to avoid fabricated penalties. Detective Tim Schwering of the Spokane Police Department said they typically send the money to countries…
Filed under: News - @ June 18, 2025 7:29 pm