Gate News message, April 26 — Tennessee has become the second U.S. state to outright ban crypto ATMs statewide, with Governor Bill Lee signing House Bill 2505 into law on April 13. The measure, which passed both chambers unanimously, officially takes effect on July 1.
The law prohibits the installation or operation of “virtual currency kiosks,” commonly found in gas stations, convenience stores, and shopping malls. Violations carry a Class A misdemeanor, with penalties of up to one year in prison and a $2,500 fine. The law applies to both crypto ATM operators and businesses that allow the machines on their property.
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, with a total of 20 states having passed related laws as of 2026. Many of these laws include provisions requiring operators to hold state licenses, set daily transaction limits, and in some cases offer refunds to scam victims.
Crypto kiosks have been exploited to facilitate billions of dollars in fraud, with scammers often posing as police or government officials to direct victims to withdraw cash, convert it to cryptocurrency, and transfer it via kiosks. According to FBI data, cryptocurrency kiosks were tied to nearly $390 million in reported losses in 2025 alone, with older Americans accounting for a disproportionate share of victims.
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
DOJ Drops Criminal Investigation Into Powell, Clearing Path for Crypto-Friendly Warsh to Lead Fed
Gate News message, April 26 — The U.S. Department of Justice has dropped its criminal investigation into Federal Reserve Chair Jerome Powell, clearing the way for the Senate to confirm Kevin Warsh as the incoming central bank chair. U.S. Attorney for the District of Columbia Jeanine Pirro
GateNews22m ago
U.S. Sanctions Iran-Linked Crypto Wallets, Tether Freezes $344 Million USDT
Gate News message, April 26 — The U.S. federal government sanctioned multiple wallets linked to Iran on April 25, with Treasury Secretary Scott Bessent announcing the action as part of efforts to increase economic pressure on the country amid an ongoing ceasefire. The sanctions came a day after
GateNews42m ago
Trump Says He 'Has to' Back Crypto After Mar-a-Lago Token Event
President Donald Trump said he has an "obligation" to support the crypto industry after hosting top buyers of his $TRUMP meme coin at Mar-a-Lago, according to reports from the event. Trump made the remarks Saturday before returning to Washington, arguing that crypto had become a major industry and t
CryptoFrontier4h ago
Tennessee Bans Crypto ATMs Statewide, Becomes Second U.S. State After Indiana
Gate News message, April 26 — Tennessee has become the second U.S. state to impose a statewide ban on cryptocurrency ATMs. Gov. Bill Lee signed House Bill 2505 into law on April 13 after it passed both chambers unanimously. The law, officially codified on April 24, will take effect July 1 and
GateNews5h ago
Vietnam to Launch First Regulated Crypto Trading Platform With 5-Year Pilot Program
Gate News message, April 26 — Vietnam's government plans to launch a five-year pilot program for regulated crypto assets in the second quarter of 2026, transitioning previously offshore and unregulated cryptocurrency trading to a domestically regulated market, according to BlockBeats.
Vietnam's tra
GateNews5h ago
DOJ Drops Criminal Probe into Powell, Clearing Path for Crypto-Friendly Warsh as Fed Chair
Gate News message, April 26 — The U.S. Department of Justice has closed its criminal investigation into Federal Reserve Chair Jerome Powell, removing a key obstacle to Senate confirmation of incoming Fed chair Kevin Warsh. U.S. Attorney for the District of Columbia Jeanine Pirro announced the
GateNews6h ago
