Virginia Enacts New Law to Regulate Crypto Kiosks and Combat Fraud

According to a report from Public News Service, Virginia has enacted a new law to regulate crypto kiosks, a common tool used by fraudsters to steal money from unsuspecting victims. House Bill 489 puts multiple regulations in place on these machines, which often resemble ATMs but are used to purchase cryptocurrency or transfer it into digital wallets.

Because these kiosks have been largely unregulated and transactions are difficult to track, they have become major targets for scammers. Jared Calfee, state advocacy director for AARP Virginia, explained that these kiosks are a unique and effective avenue for criminals to separate people from their money in a way that is very difficult to trace or return.

The scale of the problem is significant. In 2025, the FBI estimated that losses related to crypto kiosk scams exceeded $300 million, with over 12,000 complaints filed with its internet crime division.

The new law, which takes effect July 1, sets specific limits to protect residents. New users are restricted to contributing $2,000 per day, with a maximum limit of $10,000 per month. Additionally, kiosks are now required to hold any transaction for 48 hours. Calfee stressed that these mandatory holds provide a critical window for victims to realize they are being scammed and potentially recover their funds.

Violations of these new regulations could result in a $1,000 fine per offense. Advocates for fraud prevention hope these "speed bumps" will significantly limit the financial damage caused by these increasingly common schemes.

Credit: Public New Service

By Zamone Perez - Producer 

Apr 27, 2026

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