City officials say the ordinance goes into effect Friday.
The Stillwater City Council passed an ordinance this week that bans cryptocurrency ATMs within the city limits.
City officials say the machines themselves are legitimate when it comes to exchanging cash for shares of Bitcoin and other cryptocurrencies, but the machines are often used by scammers.
The scams often include a phone call, email or text message that is sent to an individual, claiming that they owe money, and they must pay it now. The scammers then work to convince the victim to withdraw cash from their bank and then send that cash through one of their local cryptocurrency ATMs.
Chief Brian Mueller says Stillwater residents have already been scammed out of $250,000.
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