Michigan town puts pre-emptive curbs on crypto ATMs
The town of Grosse Pointe Farms has no crypto ATMs, but has regulated them anyway, requiring registration, warnings and limits on kiosks.
A town in Michigan that has no crypto ATMs has passed an ordinance that puts multiple restrictions on the kiosks and their operators with the aim of protecting residents from scams.
The city council of Grosse Pointe Farms, a small town just outside of Detroit, Michigan, passed the ordinance at a meeting on Tuesday after a discussion on regulating crypto ATMs was prompted by a report of a local resident being scammed at a crypto ATM in the nearby town of St. Clair Shores.
In April, Michigan Attorney General Dana Nessel issued statewide warnings about crypto ATM scams, and local news outlet the Detroit Free Press had reported on crypto ATM scams in the city.
