Minnesota lawmakers have introduced a bill to ban cryptocurrency self-service kiosks.

PANews reported on February 27th that, according to The Block, Minnesota Representative Erin Koegel introduced HF 3642 this week, proposing a statewide ban on the installation and operation of cryptocurrency self-service terminals. The bill was submitted to the House Committee on Commerce, Finance and Policy on Thursday and, if passed, would repeal approximately twenty existing related regulations. The Minnesota Department of Commerce expressed "strong support" for the bill and plans to submit a broader consumer protection proposal that includes this ban in the coming days. Law enforcement has testified that these machines have become a primary tool for scammers targeting vulnerable residents.

Sam Smith, Director of Government Relations at the Department of Commerce, said the agency received 70 complaints related to encrypted self-service terminals last year, reporting total losses of $540,000. About 48% of consumers received refunds, averaging 16% of the total losses. There are currently about 350 licensed terminals in Minnesota, operated by 8 to 10 companies.