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
Binance Australia Fined $6.9 Million for Misclassifying 85% of Derivatives Users
The Federal Court of Australia fined Binance's local branch A$10 million for misclassifying over 500 investors, exposing them to high-risk crypto-asset derivatives, leading to losses over A$12 million. Binance admitted to significant compliance failures in client onboarding.
CryptoPotato46m ago
Ripple executives urgently refute rumors: There is no "secret XRP contract," social media misinformation stirs up waves again.
Rumors surrounding the "secret XRP contract" spread rapidly in 2026, with Ripple's Chief Technology Officer David Schwartz publicly denying it, emphasizing that no pre-allocation agreement had ever been confirmed. This incident originated from misleading posts on social media, drawing market attention and highlighting issues in the dissemination of cryptocurrency information, reminding investors to verify sources when confronted with sensitive news.
GateNews49m ago
UK Sanctions Xinbi Crypto Network in Crackdown on Global Scam Operations
The UK sanctioned Xinbi to disrupt a $20 billion crypto-enabled scam and money laundering network globally.
The authorities targeted the infrastructure for fraud ecosystems, especially in financial channels, marketplaces, and interconnected illicit services.
The United Kingdom has recently sancti
TheNewsCrypto52m ago
The U.S. launches a significant bill for the regulation of prediction markets: strict crackdown on insider trading, comprehensive restrictions on official trading.
The U.S. Senate has introduced the "Financial Prediction Markets Public Integrity Act," aimed at stopping government officials from trading event contracts using non-public information. The bill covers multiple officials, with violators facing severe economic penalties and transparency requirements. This legislation reflects the rising demand for regulation of prediction markets, signaling that they will become mainstream financial instruments.
GateNews1h ago
David Sacks Steps Down to Become Co-Chair of PCAST: Is the U.S. Crypto and AI Policy Direction Changing?
David Sacks has concluded his 130-day tenure as the White House's cryptocurrency and artificial intelligence affairs chief and will transition to co-chair of the President's Council of Advisors on Science and Technology, continuing to influence U.S. technology policy. He will focus on advancing a unified regulatory framework for artificial intelligence and engage in policy research across several key areas. This change may affect the future coordination of cryptocurrency and AI regulation.
GateNews1h ago
David Sacks steps down as the Crypto Czar, impacting policy direction, and the fate of the "CLARITY Act" remains uncertain.
The regulatory landscape for cryptocurrency in the U.S. is changing, as David Sacks concludes his term in the Trump administration and transitions to co-chair of the Technology Advisory Council, leading to concerns about the continuity of digital asset policy. The outlook for the CLARITY Act has become uncertain, with the market focusing on future legislative developments and the emergence of new policy leaders.
GateNews2h ago
