The Albuquerque City Council passed an ordinance on September 9 banning virtual currency ATMs and cashier-facilitated cryptocurrency transactions within city limits, KRQE reported. The measure, co-sponsored by Councilors Stephanie Telles and Tammy Fiebelkorn, means crypto kiosk operators must remove existing machines from Albuquerque under the ordinance’s compliance timeline.
The legislation targets kiosks that city officials say can facilitate fraud and other criminal activity, particularly scams that pressure victims into transferring funds through difficult-to-reverse crypto transactions. Operators are being given 45 days to remove their machines, while businesses that continue hosting prohibited kiosks could face enforcement measures.
The ordinance does not amount to a broader ban on cryptocurrency ownership or lawful digital asset activity outside the prohibited kiosk and cashier-assisted transactions. The immediate focus now shifts to implementation of the 45-day removal requirement and enforcement against operators or locations that fail to comply once the measure takes effect.
Source: KRQE.
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
