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Maryland consumers reported losing nearly $94 million to cryptocurrency fraud in 2023, according to the most recent FBI data.
AARP Maryland is working to raise awareness about scams involving crypto ATMs and is pushing for stronger regulation of those machines. Cryptocurrency is a digital or virtual currency, not sponsored or managed by any government. Crypto ATMs are one way to convert dollars into crypto.
Possible legislative steps include requiring crypto ATM operators to post fraud warnings on the machines, provide or display transaction receipts and refund fees on fraudulent transactions. Learn more at aarp.org/md.
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