Grosse Pointe Farms Implements Stricter Regulations on Crypto ATMs to Combat Fraud

Grosse Pointe Farms has become the first municipality in Michigan to enact legislation targeting cryptocurrency ATMs. The city council's unanimous decision follows a local scam incident where a resident was duped into depositing cash into a crypto kiosk under fraudulent pretenses.

Michigan authorities have noted a statewide surge in such schemes. In April, the attorney general issued a public warning after multiple victims reported irreversible losses totaling thousands of dollars through crypto ATM transactions.

The new ordinance mandates rigorous oversight: operators must register machines with the Department of Public Safety and obtain proper business licensing. Machines will now display prominent fraud warnings—a MOVE officials hope will curb exploitation while maintaining access to digital asset infrastructure.