Albuquerque Bans Cryptocurrency ATMs in City
The city council passed an ordinance to remove all cryptocurrency kiosks to combat rising fraud targeting residents.
Updated on Oct. 22, 2026 in Financial Crime
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Albuquerque has enacted a new ordinance banning cryptocurrency kiosks and cashier-aided crypto transactions within city limits. Mayor Tim Keller signed the measure into law to protect residents from financial scams frequently facilitated by these machines.
Why it matters
The ban addresses widespread concerns that criminals use cryptocurrency ATMs to pressure victims into making irreversible cash deposits. Officials aim to curb fraudulent activity that disproportionately impacts vulnerable populations in the local community.
The Albuquerque City Council approved the ban with a 6-3 vote. Operators have 45 days from the effective date to remove all physical kiosks, or they will face daily fines and potential license revocation.
The players
Albuquerque City Council
This local governing body is responsible for passing legislation and setting municipal policy for the residents of Albuquerque.
Tim Keller
As the Mayor of Albuquerque, he serves as the chief executive of the city and is responsible for signing local ordinances into law.
FBI
This federal law enforcement agency investigates criminal activities, including the financial fraud and scam patterns cited in the city's legislation.
The details
The Virtual Currency Ordinance targets both standalone kiosks and storefronts that facilitate cryptocurrency transactions. The city is enforcing this prohibition to mitigate the high volume of fraud complaints reported by federal investigators.
Timeline
The city council passed the ordinance on September 9, 2026.
The Virtual Currency Ordinance became effective on October 21, 2026.
Operators must complete the removal of all kiosks by December 5, 2026.
Legal Context
The Virtual Currency Ordinance represents a significant escalation in local regulatory efforts against digital asset platforms. This action mirrors a growing trend of municipalities attempting to bypass federal jurisdictional hurdles by using local business licensing laws to restrict high-risk financial services.
Residents should be aware that all cryptocurrency kiosks will be removed from public storefronts and common areas by December 5, 2026. This measure is intended to improve community safety by eliminating localized touchpoints often used by scammers to defraud individuals over the age of 50.
The takeaway
Scammers often target residents by applying high-pressure tactics to force immediate cash deposits at digital kiosks. Verify the legitimacy of any financial transaction and avoid using unknown or unregulated machines for transferring funds.
Further reading
Learn more about the latest developments in local policy at Albuquerque Financial Crime.
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Should your local government ban cryptocurrency ATMs to reduce the risk of fraud?
