The Albuquerque City Council in New Mexico has prohibited the operation of cryptocurrency ATMs and digital asset transactions through cashiers. Following the enforcement of this ordinance, operators are required to disable these machines and remove them within 45 days.
The newly enacted regulation forbids the installation, operation, maintenance, and placement of cryptocurrency ATMs within the city limits. This ban extends to businesses and venues that provide space for such devices.
Additionally, the ordinance encompasses transactions where a cashier or another employee processes payments for the purchase, sale, or transfer of cryptocurrency via a website, app, payment terminal, or any other platform. However, the authorities have not restricted the ownership of digital assets, mining, software development, or transfers between users or through online platforms that do not involve ATMs or cashiers.
Violators of this ordinance will face fines, and the city may pursue legal action to dismantle the machines and revoke licenses from companies that continue to operate them.
Reasons Behind the Ban
The initiative was introduced by city council members Stephanie Telles and Tammy Fiebelkorn. According to Telles, approximately 90% of transactions through cryptocurrency ATMs in Albuquerque are linked to fraudulent activities, although she did not provide independent verification of this claim.
"No one who is legally exchanging or transferring digital currency uses these [machines], as the high fees make them unprofitable," Telles stated.
She further claimed that cryptocurrency ATMs are primarily exploited by fraudsters, organized crime groups, and human traffickers. Fiebelkorn emphasized that the city does not intend to wait for federal measures while residents fall victim to such schemes.
This issue extends beyond Albuquerque. According to the FBI Internet Crime Complaint Center, in 2025, Americans reported over 13,400 cases of fraud involving cryptocurrency ATMs, with reported losses exceeding $388 million.
The number of complaints increased by 23% year-over-year, while the financial losses surged by 58%. More than half of the complaints came from individuals over 50 years old, who accounted for over $302 million in losses.
The FBI clarified that these reported losses cannot be solely attributed to cryptocurrency ATMs, as some complaints included other methods of transferring funds.
Albuquerque joins a growing list of states that have completely banned cryptocurrency ATMs amid rising fraud concerns. Similar bans were enacted in Delaware and New Jersey in June, following measures already in place or approved in Indiana, Tennessee, and Minnesota.
As of this writing, the United States leads globally in the number of cryptocurrency ATMs, accounting for 70.8% of installations. North America as a whole represents 85.1%, according to Coin ATM Radar.
Source: Coin ATM Radar.CoinFlip is the leading operator of Bitcoin ATMs, managing 4,931 devices and holding an 18.1% market share. Other top operators include Athena Bitcoin (3,283 devices, 12.1%) and Bitstop (2,831 devices, 10.4%).
Source: Coin ATM Radar.In September 2025, Athena Bitcoin faced allegations of profiting from schemes targeting the elderly and failing to disclose inflated fees. The lawsuit was filed by D.C. Attorney General Brian Schwalb, who denied the claims.
In March 2026, Bitcoin Depot, another cryptocurrency ATM operator, lost its license in Connecticut. At that time, the company underwent a change in leadership, and revenue forecasts dropped by 40%. In April, the system was hacked, resulting in a theft of $3.7 million.
It is worth noting that in May, Bitcoin Depot filed for bankruptcy in Texas.