The City of Ann Arbor is cracking down on potential fraud connected to virtual currency kiosks.
The kiosks found mostly in gas stations and convenience stores have become a haven for crypto scams. The FBI reports over $388 million in losses to over 1300 victims nationwide in 2025 alone.
The transactions are instantaneous and irreversible, making recovery difficult.
Michigan AARP Manager of Advocacy Cassie Thierfelder says cases of fraud have been skyrocketing.
“And while this issue impacts people of all ages, 76% of losses throughout the country were experienced by adults age 60 and older, who are the least able to recover financially.”
The new Ann Arbor regulations require operators to obtain a city license. It also adds fraud prevention safeguards like on-screen and printed warning disclosures, printed receipts, and transactions limits.
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