The Minnesota Senate recently passed bipartisan legislation that bans the operation of virtual currency kiosks in Minnesota. This is a bill that focuses solely on the kiosks used by scammers who coerce victims to deposit cash into these machines, which is then immediately converted to cryptocurrency that is often sent to untraceable accounts.

The issue has gotten so bad, last year Stillwater announced they were considering a similar ban on cryptocurrency machines after reports of numerous residents being targeted.

“All too often we’ve heard stories of these scammers taking advantage of people, and often preying on our most vulnerable. Sadly, these scams have gotten very insidious, and they specifically target our seniors,” said Senator Karin Housley (R-Stillwater), who co-authored the bill. “Almost everyone I talk to about this has had a story of a loved one falling victim, or a friend who almost made the same mistake. The scammers have gotten so crafty, they’ve even found ways to utilize AI to confuse our seniors, making it sound like their grandkids are in trouble and the only way to help is by making a deposit into these machines. It’s truly heartbreaking we need to even worry about this evil in the world, but I’m glad this is one thing we could come together on.”

Back in February, the bill was first heard in the House Commerce Committee and garnered strong bipartisan support. During the hearing, much of the submitted testimony was from law enforcement across the state, noting that many seniors in various communities have fallen victim to these scammers.

The scams have been so pervasive that many local offices have begun publishing regular updates and warnings to make seniors aware of how advanced scammers have become. Locally, Washington County has added a Senior Safety Tips page to help combat the issue. Many local senior living centers have also begun sharing tips to help residents avoid these evolving scams.

“It’s true – this bill doesn’t get to the heart of all fraud in our state. But it does take the important step of protecting consumers by taking away a huge tool being used to exploit our seniors. It’s a commonsense step that will save many of our loved ones from a lot of heartache,” finished Housley.