Texas moves to remove Bitcoin ATMs after $56.8M in fraud losses

Texas is set to pursue legislation to remove Bitcoin ATMs after fraud losses in the state reached $56.8 million last year, the largest total in the U.S. by scam losses. According to the FBI, total U.S. losses in 2025 rose 58% from a year earlier to $389 million. The ATMs, which are installed at convenience stores and other locations, are being misused as money-laundering channels that convert cash into crypto and send it to mixers or personal wallets. Indiana, Tennessee and Minnesota have already imposed full operating bans, and Texas, which has around 4,000 ATMs, plans to push an expulsion bill that goes beyond simple regulation.