Gate News message, April 26 — Tennessee has become the second U.S. state to impose a statewide ban on cryptocurrency ATMs. Gov. Bill Lee signed House Bill 2505 into law on April 13 after it passed both chambers unanimously. The law, officially codified on April 24, will take effect July 1 and makes it a misdemeanor to operate or host crypto ATMs anywhere in the state.
Violations carry a Class A misdemeanor charge, resulting in penalties of up to one year in prison and a $2,500 fine. The ban applies to both crypto ATM operators and businesses that allow the machines on their property. Indiana became the first state to enact a full statewide ban last month. According to AARP, 30 states have introduced bills related to crypto kiosks this year, with 20 states having passed laws as of 2026. Many of these laws require operators to hold state licenses, set daily transaction limits, and offer refunds to scam victims.
Crypto ATMs have become a tool for international scammers, with reported losses reaching nearly $390 million in 2025 alone, according to FBI data. Common scams involve fraudsters posing as police or government officials, directing victims to withdraw cash, convert it into cryptocurrency, and transfer it via a kiosk. Older Americans have been disproportionately affected by these schemes.
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