$397,000 in damages reported... Framingham passes ban on crypto ATMs

Framingham, Massachusetts, passed a municipal ordinance banning cryptocurrency ATMs on November 5, following a report that 10 crypto-related fraud cases since 2023 resulted in $397,000 in losses, a figure presented to the city council by Middlesex District Attorney Marian Ryan. The FBI defines crypto kiosks as ATM-style machines that exchange cash for digital assets, and scammers typically direct victims to withdraw cash from their banks and feed it into the machines. The vote makes Framingham one of a growing number of U.S. municipalities restricting physical crypto kiosks over fraud concerns. Watch for whether other Massachusetts cities adopt similar bans and how kiosk operators respond to the loss of a local market.