Overview
- Rep. Erin Koegel introduced HF 3642 and outlined it before the House Commerce Finance and Policy Committee.
- The Department of Commerce publicly backed the proposal and said it will soon present a wider consumer-protection package.
- HF 3642 targets only physical cryptocurrency kiosks, would repeal Minnesota’s 2024 kiosk safeguards, and would leave online transactions available.
- Law enforcement described scams that direct seniors to make repeated kiosk deposits, with some funds routed overseas despite posted warnings.
- Minnesota logged 70 kiosk-related complaints last year with $540,000 in reported losses, about 350 licensed machines run by 8–10 firms, and operators such as CoinFlip urged collaboration on rules rather than an outright ban.