Murfreesboro Police say businesses across the city are complying with Tennessee’s new law banning Bitcoin ATMs, a move investigators say is already helping reduce cryptocurrency scams.
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Fraud detectives visited 30 businesses that previously housed cryptocurrency ATMs to ensure they were following the law, which took effect July 1. Detectives delivered letters from Police Chief Michael Bowen along with a copy of the new law to each business.
According to Fraud Detective Sgt. Tommy Massey, every business inspected was in compliance. While a few machines were still inside businesses, they had been disconnected and were waiting to be removed by third-party vendors.
Police said they have seen a significant drop in cryptocurrency scam reports since the law took effect.
