By Jennifer Benson, AARP Massachusetts State Director
Across Massachusetts, scams are becoming more sophisticated, more personal, and more financially devastating. One of the fastest-growing tools scammers are using is something many people encounter during everyday errands: cryptocurrency ATMs.
These machines, often found in convenience stores, gas stations, and grocery stores, look a lot like traditional bank ATMs. But they operate very differently. Instead of connecting users to a regulated financial institution with consumer protections in place, crypto ATMs allow cash to be converted into digital currency and sent instantly to an unknown wallet. Once that money is gone, it is usually gone for good.
At AARP Massachusetts, protecting people’s financial security is a top priority. We believe strongly that cryptocurrency ATMs pose a serious and ongoing risk to consumers, especially older adults, and that regulation alone has not gone far enough to address the harm. That is why we support banning cryptocurrency ATMs in the Commonwealth
Law enforcement agencies, consumer advocates, and AARP have documented a steady rise in scams involving crypto ATMs. These scams often rely on urgency and fear. A scammer may pose as a bank representative, tech support agent, or government official, convincing someone that they must act immediately to avoid arrest, financial loss, or account closure. Victims are directed to withdraw cash and deposit it into a crypto ATM, often while staying on the phone with the scammer the entire time.
Because crypto transactions are fast and irreversible, scammers are able to move stolen funds quickly and anonymously, making recovery extremely difficult. AARP research shows that older adults are disproportionately harmed by these schemes, losing a significant share of reported dollars to crypto ATM fraud nationwide.
AARP has long supported consumer protections like transaction limits, clear warnings, licensing requirements, and refunds for victims. In many states, including Massachusetts, those measures have been proposed or adopted. But experience has shown that even strong safeguards can be exploited or ignored, and that scammers adapt faster than regulations can keep up.
In some cases, crypto ATM operators have continued to profit from transactions even after knowing that many customers were being scammed. This reality raises serious questions about whether these machines can be operated safely at all. When a product repeatedly causes irreversible harm, banning it becomes a reasonable and responsible option.
AARP Massachusetts is not opposed to innovation, and we are not opposed to cryptocurrency itself. What we oppose are systems that put people’s life savings at risk with little oversight and few protections. Financial tools should help people build security, not expose them to devastating losses.
Some communities here in the Commonwealth have already enacted bans on crypto ATMs after determining that regulation alone was insufficient to protect consumers. These efforts reflect a growing understanding that the risks posed by these machines outweigh their benefits.
Everyone deserves to feel safe when managing their money. At AARP Massachusetts, we believe banning cryptocurrency ATMs is a necessary step to protect residents, prevent fraud, and stop criminals from exploiting new technologies to steal hard-earned savings. We will continue to advocate for strong policies that put people first and help ensure that financial security remains within reach for all.
Learn more at aarp.org/ma.
Jennifer Benson is the State Director for AARP Massachusetts. For more articles visit www.fiftyplusadvocate.com.
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