You may have noticed fewer cryptocurrency kiosks in Wisconsin following a recent state law restricting their use.
Wisconsin Consumer Protection director Mike Domke says it’s not surprising, given that their primary use was fraud.
“I will say that the intent of the legislation was not to make them go away, but it was to certainly add a protective measure for consumers and really limit the losses that we’ve been seeing where scammers are exploiting these devices for their financial gain,” Domke said.
Domke says crypto currency booths became yet another method for scammers to get people to send them money, given that the industry is unregulated and any money transferred is likely unrecoverable.