Odaily Planet Daily News: Minnesota lawmakers have introduced a bill to ban cryptocurrency ATMs statewide, making it one of the strictest regulations against such devices in the United States.
House File 3642, introduced by DFL representative Erin Koegel on February 23, 2026, aims to prohibit the placement or operation of virtual currency ATMs anywhere in Minnesota and to repeal the existing regulatory framework established in 2024.
The proposal has received support from law enforcement and consumer advocacy groups, who point out that these devices have become major tools for scammers, especially in “pig-butchering” scams targeting the elderly. The Minnesota Department of Commerce strongly supports the bill, believing that current safeguards are ineffective against complex fraud schemes. The bill must pass through the state House and Senate before being signed by the governor. The Minnesota legislative session will continue until May 2026. (Ibtimes)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
SBF Account Claims Gary Gensler Declared War on Crypto Industry and Weakened CFTC Authority
FTX founder SBF has accused former SEC Chair Gary Gensler of colluding with Senator Elizabeth Warren to weaken CFTC authority, concentrate regulatory power within the SEC, and restrict crypto businesses through fraudulent licensing. He believes new SEC Chair Paul Atkins is more inclined toward reasonable regulation to prevent the crypto industry from being affected by power struggles.
GateNews44m ago
A certain CEX is accused of lobbying to legislate against Bitcoin's small-value tax-free policy, advocating that it only applies to stablecoins.
Reports indicate that a certain crypto trading platform has lobbied U.S. lawmakers against tax exemptions for small Bitcoin transactions, proposing that such measures be limited to stablecoins only. Bitcoin advocates have expressed concerns, believing this may benefit special interests and hinder innovation. Bitcoin policy institutions have called for tax exemptions on small Bitcoin transactions.
GateNews47m ago
FATF: Offshore Crypto Company Regulatory Gaps Facilitate Fraud, Money Laundering, and Terrorist Financing
Gate News reported that on March 12, the global anti-money laundering organization Financial Action Task Force (FATF) issued a statement pointing out that regulatory gaps in offshore crypto companies are fueling illegal activities such as fraud, money laundering, and terrorist financing. FATF emphasized that these regulatory blind spots pose a threat to global financial security.
GateNews1h ago
SEC and CFTC Sign MOU to Align Crypto Oversight Rules
SEC and CFTC signed an MOU to coordinate crypto oversight and align regulatory frameworks across digital asset markets.
Agreement supports data sharing, joint enforcement coordination, and clearer guidance for crypto firms.
Initiative links to the Harmonization plan and CLARITY Act
CryptoFrontNews2h ago
Utah HB243 Bill Defines Prediction Markets as Gambling, Kalshi Files Federal Lawsuit
Utah HB243 bill classifies "proposition betting" as gambling and is expected to be signed by the governor, which will ban platforms like Kalshi from operating. Kalshi has filed a federal lawsuit, arguing that its contracts are derivatives. The CFTC chairman stated that the agency will defend its regulatory authority.
GateNews2h ago
