Albuquerque's ban on crypto ATMs and cashier-facilitated cryptocurrency transactions has taken effect. Businesses that do not comply may face $500 daily fines and loss of their business license, while residents keep the right to own and privately transfer crypto.
Businesses operating or hosting cryptocurrency ATMs in Albuquerque, New Mexico, must stop the machines immediately under the city's newly effective Virtual Currency Ordinance. The city set Dec. 5 as the deadline for physical removal, which gives operators 45 days to take the kiosks away.
Fines and license revocation for violators
The ordinance also bars property owners, landlords, and retailers from hosting the machines, which extends the prohibition beyond the companies that operate them. The city warned of fines of $500 per day and revocation of business license for noncompliance.
Planning Department Director Alan Varela said state and city authorities are coordinating enforcement, and warned that noncompliance could lead to closure of the entire business. Suspected violations can be reported anonymously by calling 311, submitting a 311 report online, or using the ABQ311 app.
City Councilors Stephanie Telles and Tammy Fiebelkorn sponsored the measure, O-26-49. The City Council approved it on Sept. 9, and Mayor Tim Keller signed it into law Oct. 2.
What residents can still do
Residents can still lawfully own, possess, mine, and privately transfer cryptocurrency through internet-based exchanges and personal digital wallets. The restrictions apply to physical kiosks and to in-person payments that cashiers collect on behalf of cryptocurrency providers.
Officials are targeting these cash conversion services because of scams that can leave victims unable to recover their money. The U.S. Commodity Futures Trading Commission (CFTC) cites more than $388 million in reported crypto ATM scam losses during 2025.
Under Arizona's reimbursement requirements, 35 victims recovered $171,332, and federal lawmakers introduced the Stop Crypto ATM Scams Act in June.
Source: Bitcoin.com News
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