Security

New Jersey considering crypto ATM ban

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June 15, 2026

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A bill prohibiting crypto ATMs in New Jersey has gone through the Senate Commerce Committee and is now headed to the Senate for full consideration.

Bill S2141 was first introduced in the New Jersey Senate in January 2026.

The bill points to the rise of scams in crypto ATMs, with a median loss of $10,000 in the first half of 2024 as the primary reason for banning crypto ATMs.

"Under the provisions of the bill, owning, controlling, installing, managing, selling, or offering for sale a cryptocurrency ATM in this State is an unlawful practice under the consumer fraud act, punishable by a monetary penalty of not more than $10,000 for a first offense and not more than $20,000 for any subsequent offense," the bill reads. "In addition, violations may result in cease and desist orders issued by the Attorney General, the assessment of punitive damages, and the awarding of treble damages and costs to the injured party."

The Senate Commerce Committee reported favorably on the bill on June 8. If passed, New Jersey would be the fourth state to ban crypto ATMs outright, following Indiana,Tennessee and Minnesota.