{"id":502839,"date":"2026-10-21T01:50:08","date_gmt":"2026-10-21T01:50:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ca\/502839\/"},"modified":"2026-10-21T01:50:08","modified_gmt":"2026-10-21T01:50:08","slug":"council-passes-law-to-require-anti-fraud-warnings-on-cryptocurrency-atms","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ca\/502839\/","title":{"rendered":"Council passes law to require anti-fraud warnings on cryptocurrency ATMS"},"content":{"rendered":"

\"An<\/a>Bitcoin for sale at an Automated Teller Machine at in New Jersey, on March 13, 2023. (File photo by Ted Shaffrey\/AP)<\/p>\n

ATMs in the city of San Diego that accept cash in exchange for cryptocurrency may soon be required to carry warning signs to prevent fraud and scams.<\/p>\n

Cryptocurrency ATMs are electronic devices that can accept or dispense cash in exchange for a digital financial asset. They resemble traditional bank ATMs and it\u2019s estimated that there are more than 110 in the city, though there are some questions as to whether the data, from the state<\/a>, is up to date.<\/p>\n

A law unanimously passed Tuesday by the San Diego City Council requires owners and operators to post an anti-fraud warning sign on or near the machines.<\/p>\n

\u201cThis is a simple solution that can protect our most vulnerable residents from devastating financial loss,\u201d said Council President Joe LaCava<\/a>, who introduced the agenda item. \u201cWarning signs will be visible to all who use cryptocurrency ATMs and kiosks.\u201d<\/p>\n

The California Department of Financial Protection and Innovation maintains a database of cryptocurrency ATMs in the state. The machines can be found in grocery stores, gas stations and corner stores and can have legitimate purposes.<\/p>\n

However, scams using traditional bank ATMs can often be traced and funds recovered, while crypto ATMs leave no trace, funds are not recoverable and victims have no recourse, according to a statement from LaCava\u2019s office.<\/p>\n

San Diego is the first city in the state to pass such a law.<\/p>\n

\u201cThe Senior Affairs Advisory Board of the city of San Diego strongly supports Council President LaCava\u2019s action to prevent crypto machine fraud,\u201d Board Chair Gwenmarie Hilleary said. \u201cSignage warning consumers about crypto fraud at the point of action \u2013 on the crypto kiosks \u2013 will turn victims into crime fighters and stop these scams one by one.\u201d<\/p>\n

The law, if it survives a second council vote and secures the mayor\u2019s signature, will take effect on Jan. 1, 2027. LaCava and community partners will host a \u201cDay of Action\u201d near the time when the law would take effect to begin outreach and education efforts.<\/p>\n

An official with AARP California said the organization \u201clooks forward\u201d to working with community leaders and partners on continued education, business engagement and community outreach.<\/p>\n

According to a city report, the 2025 Internet Crime Complaint Center found more than $390 million in cryptocurrency scam losses throughout California. The County of San Diego Elder Justice Task Force reported $140 million in countywide scam losses by seniors.<\/p>\n

\u201cCrypto scams are evolving quickly, and scammers are constantly finding new ways to exploit people,\u201d Police Chief Scott Wahl said. \u201cThis initiative is about giving our community the information they need to recognize the warning signs and protect themselves. The best time to stop a scam is before it starts.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"Bitcoin for sale at an Automated Teller Machine at in New Jersey, on March 13, 2023. (File photo…\n","protected":false},"author":2,"featured_media":502840,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[28619,48762,74,13134,76,75,28489],"class_list":["post-502839","post","type-post","status-publish","format-standard","has-post-thumbnail","category-san-diego","tag-cryptocurrency","tag-joe-lacava","tag-san-diego","tag-san-diego-city-council","tag-san-diego-headlines","tag-san-diego-news","tag-scams"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/502839","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=502839"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/posts\/502839\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media\/502840"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/media?parent=502839"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/categories?post=502839"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ca\/wp-json\/wp\/v2\/tags?post=502839"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}