Svmuu News: Legislators in Minnesota have introduced a bill proposing a statewide ban on cryptocurrency ATMs, marking one of the strictest regulatory measures targeting such devices in the United States. House File 3642, introduced by DFL Representative Erin Koegel on February 23, 2026, aims to prohibit the “placement or operation of virtual currency ATMs” anywhere in Minnesota and repeal the existing regulatory framework established in 2024. The proposal has garnered support from law enforcement and consumer advocacy groups, who point out that these devices have become a primary tool for scammers, particularly in “pig butchering” scams targeting the elderly. The Minnesota Department of Commerce strongly supports the bill, arguing that existing safeguards are ineffective against sophisticated fraud schemes. The bill must pass both the House of Representatives and the Senate before being sent to the governor for signature; the Minnesota legislative session will continue through May 2026. (Ibtimes)