SPOKANE — Spokane City Council passed an ordinance Monday banning virtual currency kiosks to protect people from cryptocurrency scams.
The Spokane City Council unanimously approved the “Virtual Currency Kiosk Prohibition for a Safer Spokane” ordinance, which eliminates virtual currency kiosks within city limits.
PREVIOUS COVERAGE: Special Report: Cryptocurrency scams on the rise
Councilmember Paul Dillon and Council President Betsy Wilkerson led the effort.
“This ordinance will protect vulnerable Spokane residents from scams involving virtual currency kiosks, and I am proud we are the first city in the state to move this legislation forward,” said Councilmember Dillon. “These kiosks have become a preferred tool for scammers looking to defraud unsuspecting victims. I want to thank Detective Schwering for his leadership and outreach in bringing awareness to this issue.”
In 2023, the FBI reported nearly $5.6 billion in losses nationwide due to virtual currency kiosk scams, with over $141 million lost in Washington state alone.
Spokane Police Detective Tim Schwering said some Spokanites have even lost their life savings from these types of scams. He said the ordinance is a crucial step in preventing similar outcomes in the future.
The Spokane Police Department will monitor the ordinance’s impact to gauge if it supports a decrease in scams.
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