Tennessee has enacted legislation banning Bitcoin ATMs and cryptocurrency vending machines statewide, making it the second US state after Louisiana to prohibit the physical kiosks amid growing concerns about fraud and money laundering.
Governor Bill Lee signed the bill into law on Thursday. The law takes effect July 1, 2026, giving existing operators 90 days to remove or relocate their machines.
Proponents of the ban cited a surge in crypto ATM-related scams targeting elderly residents. According to the Tennessee Bureau of Investigation, losses tied to crypto ATM fraud exceeded $47 million in the state during 2025 — a 340% increase from the prior year.
“These machines have become ATMs for criminals,” said state Senator Marcus Webb. The crypto industry has pushed back hard, calling the legislation “a blunt instrument.” An industry coalition has already hinted at a legal challenge.
There are approximately 1,200 Bitcoin ATMs currently operating in Tennessee. Operators who fail to comply face fines of up to $50,000 per machine per day.
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