Regulating cryptocurrency in Wisconsin

MADISON, Wis. — It’s a hot topic in the financial world — cryptocurrency. A legislative study committee met in Madison on Tuesday to discuss the rise of scams and whether more regulations are needed.

What You Need To Know

• The Study Committee on Cryptocurrency met in Madison on Tuesday to hear from invited speakers about the rise of scams and whether more regulations might be needed


• According to the Wisconsin Dept. of Financial Institutions, residents age 60 and older were disproportionately affected by cryptocurrency scams


• That group experienced $46 million in losses in 2025, which is about three times more than any other age group


• The study committee plans to meet again in the fall to discuss possible recommendations

Wisconsinites age 60 and older have been the hardest-hit demographic by cryptocurrency scams. In 2025, that group faced $46 million in losses, three times more than any other age group, according to the Wisconsin Department of Financial Institutions (DFI).

“We have taken down or disrupted 330 scam websites and continued those efforts,” Robin Jacobs, an attorney supervisor with DFI, told the committee.

Representatives from DFI explained that scammers prefer crypto because the transactions are permanent and anonymous.