In the quaint town of Spokane, Washington, a curious decree has been issued: the local crypto ATM operators must pack their bags and vacate the premises within a mere 60 days. One can only imagine the frantic scrambling of kiosk owners, clutching their machines as if they were beloved pets. 🐾
This decision, made during a rather spirited session of the Spokane City Council on June 17, marks Spokane as the first city in Washington to take such a bold step against the digital currency craze. It seems the councilors, in their infinite wisdom, decided that enough was enough, as scams targeting the unsuspecting populace have been on the rise. Who knew that virtual currency could lead to such real-world chaos? 🤔
The ordinance, grandly titled “Virtual Currency Kiosk Prohibition for a Safer Spokane,” was the brainchild of Council Member Paul Dillon, who, along with Council President Betsy Wilkerson, must have felt like modern-day knights slaying the dragons of deceit. 🐉
Officials, with a serious air, proclaimed that this measure would shield the vulnerable citizens of Spokane from the clutches of fraudsters who have been using these kiosks as their playgrounds. It’s almost poetic, really—like a Shakespearean tragedy, but with more digital coins and fewer soliloquies.
“This ordinance will protect vulnerable Spokane residents from scams involving virtual currency kiosks, and I am proud we are the first city in the state to move this legislation forward,” declared Council Member Dillon, likely envisioning himself as a hero in a tale of valor. 🦸♂️
Under the new rules, operators have 60 days to bid adieu to their kiosks or face civil infractions, which could include the dreaded revocation of their business licenses. The Spokane Police Department, ever vigilant, will keep a watchful eye on compliance, perhaps even donning their finest detective hats for the occasion. 🕵️♂️
As of June 18, Spokane boasted over 40 cryptocurrency kiosks, according to the ever-reliable Coin ATM Radar. One can only wonder how many of those machines were secretly plotting their escape. 🤖
Detective Tim Schwering, a man who has seen the darker side of these scams, noted that funds sent through these kiosks often “end up in places like China, North Korea, Russia.” It’s like a global game of hide and seek, but with money instead of children. 🏃♂️💨
Scammers, those crafty devils, have been known to impersonate law enforcement or tax officials, pressuring their victims into converting cash into cryptocurrency under the guise of “protecting their money.” By the time the transaction is complete, it’s as if the money has vanished into thin air—poof! Just like that! 🎩✨
Spokane’s ban on crypto ATMs is part of a larger trend sweeping across the U.S., where local and state governments are tightening the reins on virtual currency kiosks. It’s almost as if they’ve decided that enough is enough, and the wild west of cryptocurrency needs a sheriff. 🤠
According to an FBI report, nearly 11,000 complaints related to crypto ATM scams were filed in the United States in 2024, with reported losses exceeding a staggering $246 million. Most victims, it seems, were over the age of 60—perhaps they were just trying to invest in their retirement, only to find themselves in a digital quagmire. 😱
May contain nuts!” 🍫
Meanwhile, Nebraska has enacted the Controllable Electronic Record Fraud Prevention Act, which requires crypto ATM operators to be licensed and caps fees at 18%. It’s a brave new world, indeed, where even the machines must play by the rules. 🎉
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2025-06-18 11:15