Haverhill’s city council is preparing to consider an ordinance that would ban cryptocurrency ATMs after a proposal introduced March 17 by Mayor Melinda E. Barrett. The measure, which the council approved unanimously with 11 votes at the March 17 meeting, would amend the city code to prohibit crypto kiosks and ATMs within city limits.
The draft ordinance cites risks to residents from “financial fraud, money laundering and lack of recourse” for users of the machines, and notes a gap in state and federal regulation as justification for local action. If adopted, the rule would require removal of all crypto ATMs from Haverhill within 60 days or expose operators to fines of $300 per day.
Haverhill’s proposal follows a wave of similar moves by other U.S. jurisdictions responding to scams and illicit uses linked to crypto kiosks. In Minnesota, a lawmaker introduced a bill in February that could ban crypto kiosks, building on a 2024 law that already imposed restrictions on ATM operators. Data from CoinATMRadar and operator Bitcoin Depot indicate there may be eight or more crypto machines in the Haverhill area. Cointelegraph contacted Mayor Barrett’s office for comment but had not received a response at the time of publication.
As one of the largest U.S. crypto ATM operators, Bitcoin Depot has faced mounting regulatory and legal challenges. Its share price has plunged more than 90% since 2025, trading at about $2.06 on the Nasdaq as of Tuesday. In March, Connecticut regulators issued a temporary cease-and-desist order that effectively suspended Bitcoin Depot’s money transmission license. State authorities in Iowa and Massachusetts have also filed lawsuits alleging the company facilitated crypto scams. Cointelegraph sought comment from Bitcoin Depot on the Haverhill ordinance but had not heard back.
Last week Bitcoin Depot announced a leadership change: Scott Buchanan stepped down as CEO after less than three months in the role, and board member and former MoneyGram CEO Alex Holmes was named CEO and chair.