MURFRESSBORO, Tenn. (WTVF) — Murfreesboro police checked local businesses for compliance with a new state law banning cryptocurrency ATMs and found every business was following the rules.
The law, which took effect July 1, makes it a Class A misdemeanor to install, operate or allow a cryptocurrency ATM to operate in Tennessee. Police said businesses have gotten rid of the machines or unplugged them and are waiting for pickup.
Sgt. Tommy Massey said the sweep came after scammers used the machines to steal nearly $4.1 million from Murfreesboro victims in a 6-month period.
"We see no difference in Williamson, Sumner, Davidson, other adjacent counties, and when you're talking about $4.1 million in a 6-month window and start multiplying across the mid state," Massey said.
Massey said all businesses checked were in compliance.
Since the new law took effect, the Murfreesboro Police Department has seen a drastic decrease in scam reports involving cryptocurrency. However, police warn neighbors not to let their guards down, as scammers will find other ways to take hard-earned money.
Jessica Mitchell, owner of Tiny Painting Desk , said she already made a personal policy of not accepting cryptocurrency as payment.
"I always tell my customers what kind of payment I accept. I do everything but bitcoin," Mitchell said.
Mitchell said she was surprised to learn some of her older customers were familiar with cryptocurrency.
"A lot of my customers that are elderly folks that are in bitcoin, and I was shocked — wait a minute, how do you know how to use this thing," Mitchell explained.
Mitchell said the issue hits close to home. Her grandmother lost $10,000 in a scam.
Mitchell has a message for scammers. "There are so many things you can do with your life than take advantage of people," Mitchell said.
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