AGENDA CAPTION:
Title
Consider approval of Ordinance 2026-02, on the second of two readings, adding a new Article 5 to Chapter 18 of the City Code that requires businesses to register Bitcoin Teller Machines and to install signage warning customers and users of the potential fraud or scam risks associated with using these machines; including procedural provisions, providing for penalties; and declaring an effective date.
Body
Meeting date: February 3, 2026
Department: Neighborhood Enhancement
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Background Information:
Cryptocurrency kiosks or bitcoin teller machines (BTM’s) look like traditional ATMs and are typically located in gas stations, convenience and grocery stores, malls, and other retail locations. A new ordinance requiring warning signs on BTM’s gives potential victims a vital moment to pause, reflect, and recognize the red flags of a scam before it’s too late. Scammers typically put pressure on their victim to act quickly and threaten them into action. They will often pose as law enforcement and claim that they must pay a fine for outstanding warrants or failing to appear for jury duty.
The ordinance requires businesses to register BTM’s with the City and to install warning signs for users of the potential for scams and risks associated with using BTM’s.
Following direction from City Council on first reading, this revised ordinance eliminates any references to ATM’s and provides for a delayed effective date of April 1, 2026, to enable time for outreach to local businesses.
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Recommendation:
Recommend approval.