Hawaii will ban cash-to-crypto kiosk deposits from Oct. 1 after the FBI recorded 92 complaints and $3.85 million in state losses.
- Hawaii will ban cash-to-crypto ATM deposits starting October 1, 2026, following a significant increase in fraud complaints and financial losses reported by residents.
- The new law, Act 224, specifically targets the function of using U.S. currency to purchase digital assets, while allowing crypto-to-cash and crypto-to-crypto transactions to continue.
- This measure aims to combat scams where criminals direct victims to use kiosks for illicit transactions, with other states also implementing varying levels of crypto ATM regulation.
Topics: Legal regulatory, Jurisdictions, Compliance, Securities law classification, Regulatory sandboxes pilots, Aml antimoneylaundering
Tags: #hawaii #cryptoatm #cashdeposits #ban #fbi #scams #consumerprotection #digitalfinancialasset #act224 #housebill1642