An ordinance banning cryptocurrency kiosks in the City of Albuquerque was signed into law Friday as authorities warn of a high-level of fraud associated with them.
Officials say there are at least 100 of the kiosks in convenience stores and smoke shops around Albuquerque. The city is still ironing out a plan to remove the kiosks – which are often exploited by scammers to defraud the public.
The “Virtual Currency Ordinance,” sponsored by city councilors Stephanie Telles and Tammy Fiebelkorn, was passed by city council Sept. 9 on a 6-3 vote, with councilors Brook Bassan, Renée Grout and Dan Lewis voting against.
Read More: New law bans cryptocurrency kiosks in Albuquerque
