The bill HF4188, approved by the House Commerce Finance and Policy Committee, would ban physical virtual currency kiosks in Minnesota by year-end and require any operator who conducts transactions only through kiosks to payout cryptocurrency owed to customers. The ban is tied to testimony from Minnesota law enforcement in February about rising kiosk-related scam activity.
Kiosk operators have opposed the ban, arguing it would limit their ability to operate even though they say they are not the source of scams. Kiosks resemble ATMs and allow users to purchase cryptocurrency with cash or a debit card, but scammers often divert the funds to digital wallets controlled by criminals. The measure targets only physical kiosks, not online transactions.
The Minnesota House is advancing HF4188, an omnibus commerce policy bill approved by the House Commerce Finance and Policy Committee, which would ban physical virtual currency kiosks in the state by year-end. The measure would also require any operator who conducts transactions only through kiosks to payout cryptocurrency owed to customers by year’s end, while online cryptocurrency transactions would remain permitted.
The bill’s fate now moves to the House Floor for consideration, with removal of physical kiosks by year-end and online transactions continuing to be allowed. Proponents say the ban could curb kiosk-based scams, while opponents warn it could hinder legitimate operators. If enacted, the ban would fully remove physical kiosks from Minnesota while keeping online crypto commerce intact.
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