Coral Springs has become the first city in Florida to ban cryptocurrency kiosks, commonly known as Bitcoin ATMs, following a series of scams that cost local victims nearly $350,000 over the past two years.
The Coral Springs City Commission unanimously approved Ordinance No. 2026-115 on Oct. 21, prohibiting the machines in an effort to protect residents from financial fraud, particularly older adults who have been disproportionately targeted by scammers.
According to the city, more than half of the local victims were over age 60, and 44% were instructed by scammers to make multiple transactions through the kiosks.
“Over the past two years, victims in our city have lost nearly $350,000 to scams involving these machines,” said Coral Springs Police Chief Brad Mock. “Protecting our residents from financial exploitation is a priority, and this ordinance gives us another way to address these crimes.”
Mock also credited Detective Chad Whittington and the City Attorney’s Office for their work in developing the legislation.
Cryptocurrency kiosks allow users to deposit cash and convert it into digital currency, which is then transferred to a cryptocurrency wallet. Unlike traditional banking transactions, cryptocurrency transfers can be difficult to trace and nearly impossible to reverse once completed.
Scammers frequently pose as government officials, law enforcement officers or representatives of financial institutions, creating a false sense of urgency and directing victims to withdraw cash and deposit it into the machines.
Once the money is transferred to a digital wallet controlled by the scammer, recovering the funds becomes extremely difficult.
The problem extends beyond Coral Springs.
According to the FBI, more than 10,956 complaints involving cryptocurrency kiosks were reported nationwide in 2024, resulting in approximately $247.7 million in losses.
Under the new ordinance, existing kiosk operators have 60 calendar days from the law’s effective date to remove their machines and cease operations.
An exception applies to certain written placement contracts signed on or before Aug. 25, 2026. Kiosks operating under those agreements must be removed when their contracts expire or by Aug. 25, 2027, whichever comes first.
The ordinance does not prohibit residents from legally buying, selling, owning or using cryptocurrency through personal electronic devices or digital wallets. The restriction applies specifically to physical cryptocurrency kiosks.
The city’s Code Compliance Division will oversee enforcement. Businesses, property owners and kiosk operators that fail to comply could face code enforcement action and daily fines.
City officials emphasized that legitimate government agencies and law enforcement officers will never demand payment through cryptocurrency kiosks.
Residents who receive such requests are urged to stop communicating with the suspected scammer and contact law enforcement immediately.
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