Arizona Attorney General Kris Mayes announced that the state's crypto ATM refund law, House Bill 2387, has recovered $171,332 for 35 scam victims since September 2025. The law requires operators to reimburse defrauded new customers who report incidents within 30 days. This consumer protection effort comes amid a broader regulatory crackdown that has caused the US crypto ATM network to contract by 43.6% since 2022, addressing scams that cost Americans over $388 million in 2025.
Arizona crypto ATM refunds
- ▪Arizona House Bill 2387 defines a new customer as someone using an operator for fewer than 10 days and caps their daily transactions at $2,000
- ▪Under Arizona House Bill 2387, crypto kiosk operators must refund eligible new customers for fraudulently induced transactions and associated fees if reported within 30 days
- ▪Arizona's crypto ATM refund law has helped 35 scam victims recover a total of $171,332 since taking effect on September 26, 2025
Global crypto ATM decline
- ▪The number of installed crypto ATMs in the United States decreased 43.6% from a peak of 35,037 units in August 2022 to 19,754 units on August 12, 2026
- ▪The number of crypto ATMs globally dropped 31.3% from a peak of 40,072 units in December 2022 to 27,524 units on August 13, 2026
Elderly scam victim losses
- ▪Arizona alone accounted for 460 crypto kiosk complaints and $14.53 million in losses in 2025, according to FBI data
- ▪In 2025, the FBI recorded 13,460 complaints across the United States regarding crypto kiosks, resulting in losses of $388.98 million
- ▪Individuals over 50 years of age accounted for more than half of the 2025 US crypto kiosk complaints, suffering losses of $302 million
International crypto kiosk regulations
- ▪Germany's BaFin conducted a countrywide raid against crypto machines in 2024, and the UK's Financial Conduct Authority shut down 26 illegal machines in 2023
- ▪Australia's financial regulator, AUSTRAC, temporarily suspended Cryptolink's operations on August 9, 2026, shutting down 96 machines
US state crypto legislation
- ▪Since 2023, 30 US states have enacted laws regulating crypto kiosks, with 13 of those laws adopted in 2026
- ▪A Hawaii law taking effect on October 1, 2026, will prohibit crypto kiosks from accepting US dollars in exchange for digital assets
Cash-to-crypto illicit activity
- ▪According to TRM Labs, illicit activities make up approximately 1.2% of cash-to-crypto volumes, nearly double the 0.63% estimate for the broader crypto industry
- ▪TRM Labs has traced over $160 million in illicit funds within cash-to-crypto volumes since 2019
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