June 21, 2025 - WASHINGTON – Recently, 11 states have passed laws or regulations that put key consumer fraud protections on cryptocurrency ATMs in place. Americans lost more than $246 million to crypto ATM fraud and scams in 2024 alone, and older adults are disproportionately targeted by criminals. At the state level, the burgeoning kiosk industry lacks important regulations, and as a result crypto ATMs are ripe for criminal fraud. With AARP’s support, new laws and rules will be implemented across the country to help combat the hundreds of millions of dollars lost to crypto ATM fraud every year, affecting roughly 11,000 people.

“In state after state, AARP found lawmakers on both sides of the aisle and local law enforcement eager to work on commonsense rules that balance innovation and consumer safety,” said Nancy LeaMond, AARP Executive Vice President and Chief Advocacy and Engagement Officer. “With criminals disproportionately targeting older Americans through crypto ATM scams, we’re proud to have helped pass these laws that will better protect millions of people nationwide from having their hard-earned money stolen.”

Crypto ATMs look like bank ATMs and allow people to conduct legitimate cryptocurrency transactions, such as sending money to digital wallets. Today, there are more than 45,000 crypto ATMs nationwide.

“Our law that passed the statehouse in Illinois will see consumers at crypto ATMs protected by transaction limits, required ATM registration, guidelines on refunds after fraud and more,” said AARP Illinois State Director Philippe Largent. “We’re committed to staying on top of this issue and other modern-day fraud trends to ensure that our 1.7 million members in Illinois, and all older adults and their families are not robbed of their hard-earned money.”

Older adults are disproportionately affected by fraud and scams using cryptocurrency ATMs. In 2024, the FBI received over ten thousand complaints involving crypto ATMs, and Americans reported over $246 million in stolen funds in these complaints. Adults over age 60 accounted for more than 67% of the victims of reported crypto ATM fraud.

“Nebraska’s new law, which passed on March 6, is hopefully a model for other states – and perhaps even one day the nation,” said AARP Nebraska State Director Todd Stubbendieck. “We know this law is greatly needed, and when the legislation goes into effect in September, we expect it will have significant impact in helping to deter crypto ATM fraud.”

While it was a monumental achievement to pass legislation in so many statehouses across the country, the work is not done. In states without anti-fraud measures, AARP continues to work at the state, county and local level to implement policies that will protect Americans everywhere.  

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About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.
Source: AARP