Tennessee Moves to Ban Cryptocurrency ATMs Over Fraud Concerns
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Tennessee will ban cryptocurrency ATMs statewide from July 1 after Governor Bill Lee signed SB2251, making it the second US state to prohibit virtual currency kiosks. The law follows roughly $10 million in crypto ATM scams reported in 2025 and officials warn funds are difficult to trace as they move across exchanges, underscoring regulatory, security and adoption challenges for crypto and retail access.
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- Tennessee set to ban cryptocurrency ATMs on July 1 as officials target fraud losses.
- State data shows roughly $10 million was lost through crypto ATM scams during 2025.
- Police say crypto ATM scams are difficult to trace as funds move across exchanges.
Tennessee is set to become the second state in the United States to prohibit cryptocurrency ATMs after Governor Bill Lee signed Senate Bill 2251 into law. Beginning July 1, the measure will make it illegal to install, operate, or host virtual currency kiosks anywhere in the state.
Lawmakers and consumer protection advocates say the action is intended to address growing fraud cases linked to the machines, particularly incidents involving older residents who have been persuaded to deposit cash into cryptocurrency accounts controlled by scammers.
The new law establishes a legal framework defining both virtual currency…
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