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June 20, 2025
Spokane, Washington has officially banned cryptocurrency ATMs. The city council voted unanimously to pass the ban, according to a report by decrypt.
There are currently around 50 cryptocurrency ATMs in the city limits. Under the ban, these operators have 60 days to remove their ATMs.
The goal of this regulation is to protect individuals, especially the elderly from scams. Data from the FBI states that bitcoin ATM scams have cost victims $5.6 billion. In many cases, the scammers will pose as an authority figure such as a worker from the IRS and trick victims into depositing money into the machines.
The ordinance states that cryptocurrency, “offers criminals a path to exploitation because it is decentralized and distributed.”
There has been a rise in legislation to address bitcoin ATM scams. Click here to read more.
