Crypto kiosks were used to scam $56 million from Texans last year. Lawmakers are calling for regulation.
· KRGV (NBC 5)
In Texas, cryptocurrency kiosks were involved in scams that cost victims over $56 million last year, with nearly 1,200 individuals affected. Many victims, including a 72-year-old woman, were manipulated into believing they owed money to authorities, leading them to deposit cash into these machines. The FBI reports a surge in such scams, prompting calls for regulation as Texas currently lacks oversight. Lawmakers are discussing potential bans and regulations, especially to protect vulnerable populations like the elderly. With around 4,000 kiosks statewide, the urgency for legislative action is growing as fraud rates continue to rise.
AI summary · Source: KRGV (NBC 5) →
