Minnesota's ban on cryptocurrency ATMs took effect on August 1.

Odaily Planet Daily reports that a new state law banning cryptocurrency ATMs in Minnesota will officially take effect on August 1st. According to the law, all cryptocurrency ATMs in the state must cease operation by August 1st and be physically removed from stores and other locations by the end of the year. At the time the bill passed, Minnesota had approximately 350 licensed cryptocurrency ATMs operated by eight companies. The Minnesota Department of Commerce stated that between 2023 and 2025, regulators investigated 134 complaints involving cryptocurrency ATMs, resulting in residents losing nearly $1 million. Law enforcement stated that funds from such transactions typically flow overseas, making them difficult to trace. After the ban takes effect, residents can still conduct cryptocurrency transactions through regulated online platforms. (CBS News)