Gate News message, April 25 — Tennessee has become the second U.S. state to ban crypto ATMs statewide after Gov. Bill Lee signed House Bill 2505 into law on April 13. The law, which passed both chambers unanimously, was officially codified on Thursday and will take effect July 1.
The legislation prohibits the installation or operation of “virtual currency kiosks,” commonly known as bitcoin ATMs, which are typically found in gas stations, convenience stores, and shopping malls. The ban applies to both crypto ATM operators and businesses that allow the machines on their property. Violations carry a Class A misdemeanor charge, resulting in penalties of up to one year in prison and a $2,500 fine.
Indiana became the first state to enact a full statewide ban last month. According to an AARP report, thirty states have introduced bills related to crypto kiosks this year alone, bringing the total number that have passed laws to 20 as of 2026. Many of these states have added provisions requiring operators to hold a state license, set daily transaction limits, and offer refunds to scam victims.
Crypto kiosks have been tied to nearly $390 million in reported losses in 2025, according to FBI data, with older Americans accounting for a disproportionate share of victims. Scammers commonly pose as police or government officials, directing victims to withdraw cash, convert it to crypto, and send it via a kiosk.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Chainalysis: EU's New Sanctions on Russia Mark 'a New Era' of Crypto Enforcement
The blockchain intelligence agency highlighted that the recently issued sanctions package against Russia was perhaps the most comprehensive crypto-focused action by the EU, targeting the whole Russian cryptocurrency sector rather than individual actors, including the digital ruble in full and the
Coinpedia1h ago
IMF's Former Chief Economist Warns Double Deregulation Could Trigger Systemic Financial Crisis
Gate News message, April 27 — Kenneth Rogoff, former chief economist of the International Monetary Fund, has warned that the Trump administration's push for financial deregulation—particularly loosening bank capital requirements and regulatory transparency—is significantly raising the risk of a
GateNews2h ago
Mike Novogratz: The 《CLARITY Act》 was submitted to the committee for review in May, with an estimated approval rate of 50%
Galaxy Digital CEO Mike Novogratz said in a podcast episode he posted on YouTube on April 25 that the U.S. “CLARITY Act” will be submitted to a Senate committee for review during the first week of May, and it is expected that Trump will complete the signing in June. Alex Thorn, head of research at the firm, estimates the probability that the bill will pass in 2026 at 50%.
MarketWhisper3h ago
Japan's FSA Outlines Dual-Track Strategy for Digital Assets: Investor Protection and Financial Infrastructure
Gate News message, April 26 — Japan's Financial Services Agency is pursuing a two-pronged approach to digital asset regulation, balancing investor protection with infrastructure innovation, according to remarks by Shigeru Shimizu, Head of Risk Analysis at the FSA, delivered April 21 at a
GateNews5h ago
Tennessee Becomes Second U.S. State to Ban Crypto ATMs Statewide
Gate News message, April 26 — Tennessee has become the second U.S. state to outright ban cryptocurrency ATMs, with Gov. Bill Lee signing House Bill 2505 into law on April 13 after unanimous passage in both chambers. The law will take effect on July 1 and makes it a misdemeanor to operate or host
GateNews5h ago
Study: Only 3% of Polymarket Traders Are Skilled; Minority Captures 30%+ of All Gains
Gate News message, April 27 — A new academic paper analyzing all Polymarket transactions from 2023 through 2025 concludes that the platform's accuracy reflects "the wisdom of an informed minority, not the wisdom of the crowd." The working paper, revised April 25, was authored by Roberto Gómez-Cram,
GateNews5h ago
