Tennessee will ban cryptocurrency ATM’s starting on July 1. Managing, owning, or running a crypto ATM is prohibited under two bills that have been enacted into law.
Tennessee became the second state in the nation to ban crypto ATMs, the first was Indiana back in March and Minnesota will become the third when it goes into effect in August.
According to the Shelby County Sheriff’s Office, they are collaborating with the District Attorney’s office to find the machines and enforce the new law.
Sheriff Floyd Bonner said, “This law is a great step forward to help protect our Shelby County residents against these cryptocurrency scams, and it is a stern message to fraudsters that our citizens will no longer be their targets for these scams.”
