new law<\/a> Tuesday that requires warning signs at the more than 100 cryptocurrency ATMs that have begun operating in San Diego.<\/p>\nSimilar warning signs required by the city of Omaha, Neb., reduced ATM cryptocurrency scams by 80% in just one year, according to the American Association of Retired Persons.<\/p>\n
\u201cStopping scams before they take place is critical and can be the difference between facing life-altering consequences or continuing to meet basic needs,\u201d said Council President Joe LaCava, who spearheaded the new law.<\/p>\n
The new law, which takes effect Jan. 1, requires signs saying \u201cWarning: Cryptocurrency May Be Used for Scams.\u201d The signs will also tell users it\u2019s likely a scam if they are sending money to someone they haven\u2019t met in person or someone who claims to be with law enforcement.<\/p>\n
\u201cIt is one last opportunity to cause somebody to pause about why they are there,\u201d LaCava said.<\/p>\n
Advocates said the stakes are high, stressing that $389 million was stolen in cryptocurrency ATM scams nationwide during 2025, according to FBI statistics.<\/p>\n
ATMs that issue bitcoin and other cryptocurrencies have created a new opportunity for scammers because such transactions are harder to trace, and once money has been converted to crypto, it essentially can\u2019t be recovered.<\/p>\n
Cryptocurrency is not legal tender, and crypto transactions are not FDIC-insured like most traditional bank transactions.<\/p>\n
The city\u2019s Senior Affairs Advisory Board endorsed the new law. William Peetoom, the board\u2019s vice president, said the new crypto scams threaten the independence of seniors.<\/p>\n
Barry Berman, a volunteer with AARP California, said such scams can be life-changing.<\/p>\n
\u201cWhen an older adult loses money to fraud, it can impact their ability to pay for necessities such as healthcare, food and housing,\u201d Berman said.<\/p>\n
Scammers typically target seniors because they are often less digitally savvy and frequently live alone with no one to consult about suspicious offers and requests, according to AARP.<\/p>\n
The crypto ATMs in San Diego are located across the city, with large clusters\u00a0 downtown, in City Heights and the Midway District near the sports arena. The law applies to all of them and any new crypto ATMs that begin operating in the future.<\/p>\n
The warning signs will be printed in multiple languages.<\/p>\n
LaCava also plans to launch a city website about crypto ATM scams and a separate community education campaign about the risks. The website will also allow people to report crypto ATMs that lack warning signs<\/p>\n
Councilmember Sean Elo-Rivera said the new law is the right step to take, because it shows that the city is looking out for its residents.<\/p>\n
California recently limited the amount of money that can be sent using a crypto ATM, a cap that officials said will also help fight such scams.<\/p>\n","protected":false},"excerpt":{"rendered":"San Diego is the first city in California to target a new kind of financial scam where criminals…\n","protected":false},"author":2,"featured_media":502776,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[138,181,23,100,74,76,75,1696],"class_list":["post-502775","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-diego","tag-crime-and-public-safety","tag-latest-headlines","tag-local-news","tag-news","tag-san-diego","tag-san-diego-headlines","tag-san-diego-news","tag-top-stories-sdut"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/502775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/comments?post=502775"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/502775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/502776"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=502775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=502775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=502775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}