Mayor Keller holds up the newly signed Virtual Currency Ordinance alongside AARP NM Associate State Director for Advocacy Mr. Umi, AARP NM State Director Dr. Roybal-Sánchez, Office of Equity and Inclusion Deputy Director Dr. Cooper, District 1 City Councilor Telles, Senior Affairs Director Anna Sanchez, and other advocates and City representatives

City Takes Action Against Virtual Currency Scams

New ordinance targets physical kiosks used in financial scams while preserving lawful cryptocurrency use

October 02, 2026

Mayor Tim Keller signed Albuquerque’s new Virtual Currency Ordinance, O-26-49, Friday, Oct. 2, establishing new consumer protections against financial scams involving physical cryptocurrency kiosks.

The ordinance prohibits virtual currency ATMs and cashier-facilitated virtual currency transactions within Albuquerque. It does not prohibit cryptocurrency itself. Residents may continue to lawfully own, possess, mine and privately transfer virtual currency through internet-based exchanges and personal digital wallets.

Virtual currency kiosks allow users to convert cash into digital currency and have increasingly been used in impersonation scams and coercive payment schemes. These scams can affect anyone, with older adults and other vulnerable populations among those disproportionately targeted. Once money is converted to virtual currency and transferred, recovering those funds can be extremely difficult.

“Scammers are constantly finding new ways to separate people from their money, and these kiosks have become another tool they can use,” said Keller. “We’re taking that tool off the table and putting protections in place for Albuquerque residents, especially those most often targeted by these schemes.”

Existing virtual currency ATMs must cease operations and be physically removed within 45 days of the ordinance’s effective date. Property owners, landlords and retailers are also prohibited from hosting the machines.

Keller was joined at the signing by District 1 City Councilor Stephanie W. Telles, AARP New Mexico Associate State Director for Advocacy Othiamba Umi, and Office of Equity and Inclusion Deputy Director Dr. Nina Cooper, who each spoke about the ordinance and its role in protecting residents from financial scams.

“Older adults are frequent targets of financial scams, and once money is transferred through a virtual currency kiosk, recovering those funds can be extremely difficult,” said Umi. “Putting protections in place before that transaction happens can help prevent devastating financial losses.”

Sponsored by Telles and District 7 City Councilor Tammy Fiebelkorn, O-26-49 was approved by the Albuquerque City Council Sept. 9.