US EditionSpokane Bans Virtual Currency Kiosks to Combat Rising Scams
- On Monday, the Spokane City Council approved a measure to prohibit virtual currency kiosks throughout the city in an effort to shield residents from related fraud.
- The ban was implemented in response to a rise in cryptocurrency kiosk scams, which resulted in nationwide losses totaling $5.6 billion in 2023, including nearly $142 million reported within Washington state.
- A detective from the Spokane Police Department reported that many local residents have been victimized by these scams, resulting in significant financial losses.
- The Spokane City Council unanimously approved an ordinance that bans virtual currency kiosks to help prevent scams, making Spokane the first city in Washington to implement such a measure.
- The Spokane Police Department is conducting ongoing investigations into virtual currency kiosk-related crimes and is expected to provide regular updates on how the ban affects reported incidents. Meanwhile, independent efforts continue, such as the recent recovery of $31,900 from a Bitcoin kiosk in Jasper County following a scam investigation.
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Leaning Left1Leaning Right1Center5Last UpdatedBias Distribution71% Center
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- 71% of the sources are Center
71% Center
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C 71%
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