Waltham passes ordinance to curb cryptocurrency ATM fraud

With a newly passed ban on cryptocurrency ATMs and kiosks, the city of Waltham has taken action against scams that have been impacting people nationwide.

“We created a simple, direct city ordinance,” Waltham resident Stephen Drew said, explaining that the ATMs are now completely forbidden in the city. “No one’s going to get scammed in Waltham anymore,” he added. 

Drew was motivated to push for the ban after one of his family members was scammed out of $18,000. The combined efforts of Drew, the Waltham Police Department, the City Council and Mayor Jeannette A. McCarthy formulated the landmark ordinance over the course of several months.

Cryptocurrency ATMs are found in convenience stores and gas stations across the country. Instead of being used to withdraw cash, the machines accept cash in exchange for Bitcoin. With little regulation on them, they are used by scammers as a tool to steal money from unwitting victims. 

Waltham’s new ordinance, unanimously approved on Sept. 9 and officially in effect as of Monday, Sept. 15, bans the cryptocurrency ATMs from being used in Waltham businesses. Before the ban there had been 14 cryptocurrency ATMs in Waltham, according to the Waltham Police Department — just a fraction of the 30,000 available nationwide. 

The ATMs are used by scammers who typically will call victims impersonating government agencies, business entities or trusted tech companies. Under false pretenses, scammers pressure victims into putting their money in one of the machines. Once victims hand over their money, it becomes accessible to the scammer and virtually untraceable as cryptocurrency.

Waltham Police said that over 20 people have reported $175,000 worth of losses to cryptocurrency scams in Waltham in 2025 alone. Because victims often don’t report the scams to the police, that number is likely even higher.

Once the ordinance went into effect in Waltham, it didn’t take long for news of the effort to spread. Chelmsford Town Manager Paul Cohen told The Waltham Times that Waltham’s action has led Chelmsford to consider enacting a similar bylaw.

Drew said he doesn’t plan to stop his work, either. His aim is to spread similar bylaws all over the country to curb the threat.