Albuquerque Bans Crypto ATMs and Over-the-Counter Crypto Trading Services

Albuquerque, New Mexico, passed Ordinance O-26-49 on September 10, banning the operation, hosting, or facilitation of crypto ATMs and over-the-counter crypto trading services within city limits. According to Odaily, City Council member Stephanie W. Telles said about 90% of such local transactions are linked to fraud.The ordinance requires affected operators to remove all impacted equipment within 45 days of the law taking effect, and violators will face cumulative fines. City Council member Tammy Fiebelkorn said the ban is intended to remove physical infrastructure that enables fraudulent activity.The measure does not affect residents’ ability to hold, own, mine, or transfer digital assets through other means. The number of crypto ATMs in the U.S. has fallen from 38,708 to 27,945 after Bitcoin Depot stopped operating.