⚡️🇺🇸 NEW - Tennessee has become the second U.S. state to ban cryptocurrency ATMs, making the possession or operation of such machines a criminal offense.
The law is expected to take effect in July.
In March, Indiana had already imposed a ban on the machines, which federal authorities have identified as a vehicle for fraud targeting seniors.
The FBI reported that Americans over the age of 60 lost $257 million to scams involving Bitcoin ATMs last year.
In total, Tennessee is home to 651 Bitcoin ATMs, the majority of which are concentrated around Nashville.
The law is expected to take effect in July.
In March, Indiana had already imposed a ban on the machines, which federal authorities have identified as a vehicle for fraud targeting seniors.
The FBI reported that Americans over the age of 60 lost $257 million to scams involving Bitcoin ATMs last year.
In total, Tennessee is home to 651 Bitcoin ATMs, the majority of which are concentrated around Nashville.
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