Spokane City Council Votes to Prohibit Virtual Currency Kiosks
Washingtoner/10294919

~ In a unanimous decision during Monday's Legislative Session, the Spokane City Council voted to pass ordinance C36704, also known as the "Virtual Currency Kiosk Prohibition for a Safer Spokane." This new legislation, brought forth by Council Member Paul Dillon and Council President Betsy Wilkerson, aims to eliminate virtual currency kiosks within the city limits.

Lisa Gardner, the City Council Communications Director, stated that this ordinance is crucial in protecting vulnerable residents from falling victim to scams involving virtual currency kiosks. She also noted that Spokane is the first city in the state to take action against this growing issue.

Council Member Dillon expressed his gratitude towards Detective Tim Schwering for his leadership and outreach in bringing awareness to this problem. He emphasized that virtual currency kiosks have become a preferred tool for scammers looking to defraud unsuspecting victims.

More on Washingtoner

• 14th CryptoSuper500 Report Releases: Bitcoin's Evolution into a Global Supercomputer
• Ross Toohey named Managing Director in Chesterfield, Missouri
• High Profile Gateway Race Events With Strong Brand Exposure Plus Sponsorship in Female Motorsports; $100 Million Financing Unlocked: Lottery.com
• ASI Accelerates iMIS® Innovation by Acquiring CSI's Product Suite and Expert Team
• Evluma and LED Roadway Lighting Ltd. Join Forces to Drive Innovation

According to the Council, Spokane has seen an increase in scams related to cryptocurrency kiosks, resulting in victims losing thousands of dollars. In 2023, the Federal Bureau of Investigation (FBI) reported losses of nearly $5.6 billion due to virtual currency kiosk-aided scams in the United States. In Washington alone, losses amounted to $141,756,936.

Detective Schwering from the Spokane Police Department (SPD) shared his concerns about this growing issue and its impact on the community. He stated that many individuals have lost their life savings due to these scams and applauded the passing of this ordinance as a vital first step in protecting Spokane residents.

The SPD has been actively tracking and investigating crimes related to virtual currency and kiosks. They plan on providing regular reports on whether this ordinance has a measurable impact on reducing reported crimes involving virtual currency kiosks.

Through this newly passed ordinance, a new chapter titled "Virtual Currency" will be added to Title 10 of the Spokane Municipal Code. This move highlights Spokane's commitment to safeguarding its residents from falling victim to virtual currency kiosk scams.

---

Show All News | Report Violation