A new state ban on cryptocurrency kiosks will go into effect on Saturday, shutting down a tool that scammers have used to swindle $1 million from Minnesotans, officials say.
The kiosks must be taken offline by Saturday and must be physically removed from stores by the end of the year. When the bill to ban the kiosks passed during the most recent legislative session, there were roughly 350 licensed cryptocurrency kiosks operating in the state, run by eight companies.
Officials with the state Department of Commerce say they investigated 134 complaints involving crypto kiosks between 2023 and 2025. During that time, Minnesotans lost nearly $1 million, they said.
Law enforcement officials say the crypto becomes difficult to trace because transactions typically lead overseas.
The bill was backed by local law enforcement, the Minnesota Bureau of Criminal Apprehension and the American Association of Retired Persons, among others.
A 2024 report by the FBI showed nearly 11,000 complaints involving cryptocurrency kiosks nationwide, with more than $240 million in losses. The vast majority of complaints involved people over the age of 60.
“There is no safe crypto kiosk,” said Minnesota Department of Commerce Commissioner Grace Arnold. “Every complaint represents a Minnesotan whose life was turned upside down by a scammer. By banning these machines, Minnesota is shutting down one of the most effective tools scammers have used to steal from consumers.”
When the bill was first introduced, a spokesperson for CoinFlip, a cryptocurrency kiosk operator, told WCCO that “we take consumer protection seriously and hold ourselves to the highest standards of compliance and transparency.”
The Minnesota Bureau of Criminal Apprehension says common warning signs of a crypto scam include pressure to act immediately and secretively, sending money to protect bank accounts and investment and being told not to trust family or friends.
Minnesotans will still be able to access regulated cryptocurrency sites online.
