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Massachusetts City Bans Crypto ATMs After Residents Lose $397,000 to Scams
A Massachusetts city has banned cryptocurrency ATMs after residents reported losing $397,000 to scams involving the machines since 2023. The Framingham City Council voted unanimously to approve the ban at its recent November meeting, reports MetroWest Daily News.
Brief
Framingham, Massachusetts, has barred cryptocurrency ATMs after residents lost a combined $397,000 through fraud connected to the devices starting in 2023. The city council passed the ban unanimously at a November meeting, according to MetroWest Daily News. Its goal is protecting older residents, people with limited English and households earning less. Councilor Mary Kate Feeney first proposed the measure in October. Middlesex District Attorney Marian Ryan fully supports the restriction. Her office logged 10 related Framingham cases over three years, totaling $397,000. Recovery is hard, she indicated, because even successful prosecutions leave investigators unable to reach wallets often held abroad. Police will direct host businesses to disconnect the machines within a set timeframe. Framingham now joins 22 other Massachusetts communities with similar prohibitions.
Why it matters: The move shows municipalities acting to limit crypto kiosks that the report ties to fraud losses difficult to recover.
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Framingham, Massachusetts bans crypto ATMs after $397,000 in scam losses
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