Gate News message, April 26 — Tennessee has become the second U.S. state to outright ban cryptocurrency ATMs, with Gov. Bill Lee signing House Bill 2505 into law on April 13 after unanimous passage in both chambers. The law will take effect on July 1 and makes it a misdemeanor to operate or host virtual currency kiosks, commonly known as bitcoin ATMs, anywhere in the state.
Violations carry a Class A misdemeanor charge, resulting in penalties of up to one year in prison and a $2,500 fine. The law applies to both crypto ATM operators and businesses that allow the machines on their property. Indiana became the first state to enact a full statewide ban last month.
According to AARP, thirty states have introduced crypto kiosk-related bills this year alone, with 20 states having already passed laws as of 2026. Many of these states have implemented provisions requiring operators to hold state licenses, set daily transaction limits, and offer refunds to scam victims. Cryptocurrency kiosks were tied to nearly $390 million in reported losses in 2025, with scammers commonly posing as police or government officials to direct victims to withdraw cash, convert it to crypto, and transfer funds via kiosks. Older Americans account for a disproportionate share of victims.
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