PANews, August 1: According to CBS News, a new Minnesota state law banning cryptocurrency ATMs takes effect on August 1. These ATMs must be taken offline by August 1 and physically removed from stores by the end of the year. During the most recent legislative session, approximately 350 licensed cryptocurrency ATMs, operated by eight companies, were in use across the state. The Minnesota Department of Commerce reported that between 2023 and 2025, it investigated 134 complaints involving cryptocurrency ATMs, resulting in nearly $1 million in losses for Minnesota residents. Law enforcement noted that these transactions typically flow overseas and are difficult to trace. After the ban takes effect, residents will still be able to trade cryptocurrencies through regulated online platforms.
Minnesota's crypto ATM ban takes effect on August 1
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Summary
Minnesota’s crypto ban takes effect on August 1, as a new state law prohibits cryptocurrency ATMs. Machines must be shut down by the deadline and removed by year-end. The state reported $1 million in losses from 134 complaints, with transactions frequently routed overseas and evading tracking. Risk-on assets like crypto remain accessible through regulated online platforms.
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