TechFlow News, March 1: According to a report by IBTimes, legislators in Minnesota introduced a bill on March 1 proposing a statewide ban on cryptocurrency ATMs—the most stringent regulatory measure against such devices in the United States.
House File 3642 was introduced on February 23, 2026, by DFL Representative Erin Koegel. The bill aims to prohibit “placing or operating virtual currency ATMs” anywhere in Minnesota and would repeal the existing regulatory framework established in 2024.
The proposal has garnered support from law enforcement agencies and consumer advocacy organizations, which cite these machines as primary tools for scammers—particularly in “pig-butchering” scams targeting elderly individuals. The Minnesota Department of Commerce strongly backs the bill, stating that current safeguards are ineffective against sophisticated fraud schemes.
The bill must pass both the state House of Representatives and Senate before being sent to the governor for signature. The Minnesota legislative session runs through May 2026.
