LAS VEGAS (FOX5) — Nevada is the latest state to review a proposed ban on Cryptocurrency ATMs to protect victims from scammers, all as major ATM providers speak out against the move.
The Legislative Committee on Senior Citizens, Veterans and Adults With Special Needs already requested a bill draft for the 2027 Legislative session, according to Assemblymember Reuben D’Silva of Las Vegas and Clark County.
According to a 2025 report from the FBI Internet Crime Complaint Center (IC3), 13,460 complaints from victims reported $389 million in losses from cryptocurrency ATMs and kiosks; AARP points out that more than 70% of victims were over the age of 60.
“According to the FBI’s numbers, here in Nevada, we’re talking at least $5 million,” said Tod Story, state director for AARP Nevada. “What AARP is against is the scam and the crimes that are being perpetuated against individuals, especially seniors, through the use of these crypto kiosks,” Story said.
Critics argue that criminals, often international actors, are hard to track; victims may have trouble getting funds back unless law enforcement acts in a quick timeframe, senior advocates argue.
Indiana was the first state to enact an all-out ban; other states are considering sweeping legislative proposals, including Nevada. More than 30 states have enacted daily transaction limits among other security measures, according to the AARP.
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“I talked to the FBI, Metro, to the members of the District Attorney’s Office, Attorney General’s Office, and they said that there’s a lot of activity around these machines that are fraudulent, that are scams-the majority, some even said. When you look at the sort of business model here in Nevada, which is completely unregulated, we need to go ahead and start reining in these crypto kiosks throughout the state,” D’Silva tells FOX5.
Major crypto ATM provider CoinFlip, which has 41 ATMs in Nevada and 23 in Las Vegas, said its company has championed consumer protection and laws in more than 30 states, working with law enforcement to help customers recover funds from scammers.
A statement says in part:
Consumer protection is one of CoinFlip’s top priorities. Our Chief Legal Officer, Chief Compliance Officer, and General Counsel oversee our compliance program. Before every transaction, customers see multiple scam warnings, including our “Safe in Six” guidance. Individuals must confirm that no third party sent them to the kiosk and that they own and control the receiving wallet. We update these warnings regularly to reflect current scams. Our 24/7 live customer service number appears on every kiosk and transaction screen, and customers are told to call us if anyone has directed them to transact. We use blockchain analytics to flag suspicious activity, and we permanently blacklist high-risk wallet addresses so they can never be used at a CoinFlip kiosk again. We work with local law enforcement in every state we operate to hold and reverse transactions for scam victims before it is too late and continue to update our security controls to stay ahead of evolving scams.
Claims that these transactions are irreversible and untraceable are false.
CoinFlip points out that independent contractors like drivers, hospitality workers and salon employees who get paid in cash rely on crypto ATM machines to convert their pay into funds.
“Nevadans should have the freedom to choose how they want to buy their crypto,” the statement to FOX5 said.
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