Opinion | Saving crypto ATMs may be futile

Cryptocurrency ATMs in Massachusetts have been linked to approximately $7 million in scams last year, primarily targeting vulnerable individuals through deception and fraud. Despite arguments for regulation to allow legitimate use, most transactions at these machines are considered fraudulent, with high fees and little consumer protection. Several states and countries have moved to ban or heavily regulate the machines due to their association with scams and limited consumer benefit. Massachusetts lawmakers are considering proposals to limit transaction amounts and fees or outright ban the kiosks to prevent further fraud.

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