Coral Springs commissioners voted unanimously to prohibit cryptocurrency kiosks across the city, enacting Ordinance No. 2026-115 after officials said local scam victims lost roughly between $320,000 and $350,000 to frauds that used the machines.
What the new law does
The ordinance, approved Oct. 21, targets the ATM-like terminals that allow users to convert cash into Bitcoin and other digital currencies. City leaders said the devices have become a tool for fraudsters who direct victims to make cash transactions at kiosks to launder or transfer stolen funds.
Scope of the local problem
Police documented at least 26 victims of cryptocurrency-related scams in Coral Springs from 2024 through 2026. According to local reporting, approximately 54% of those victims were older than 60 — a statistic city officials cited when arguing for the ban.
- Number of documented victims: 26 (2024–2026)
- Estimated local losses: $320,000–$350,000 (reported figures vary by outlet)
- Share of victims over 60: about 54%
The accounts reviewed by local news outlets detailed how quickly losses could accumulate. One 75-year-old resident was defrauded of $45,000 across two transactions, while a 78-year-old lost $14,380 across eight separate transactions, according to police records reported locally.
“Money is draining out of Coral Springs through machines meant to make cryptocurrency more accessible,” a local news review stated.
How the scams operated
Local reporting found consistent patterns in how the schemes unfolded. In about 42% of cases reviewed by one outlet, victims were directed by fraudsters to visit multiple kiosks to complete the requested transactions. Another local account put a similar figure at 44% for victims told to make multiple transactions, suggesting a common scam playbook even as exact percentages differed slightly among reports.
City officials pointed to those patterns in arguing that banning kiosks would reduce an avenue for these schemes to target older and vulnerable residents. Police and city leaders said the machines made it easier for scammers to convert stolen funds into cryptocurrency quickly and anonymously.
Context beyond Coral Springs
The federal government has tracked similar patterns nationally. The FBI has received complaints tied to cryptocurrency kiosks, and local officials cited that broader trend as part of the rationale for adopting the ordinance. City leaders said they hoped Coral Springs would be the first Florida municipality to enact such a ban, framing the move as preventive action to protect residents.
| Measure | Reported figure |
|---|---|
| Documented local victims (2024–2026) | 26 |
| Estimated total losses (local reports) | $320,000–$350,000 |
| Victims over age 60 | ~54% |
Coral Springs officials did not release enforcement details or a timeline for removing kiosks from city property at the time of the vote. Nor did the local reporting reconcile the discrepancy between the two loss estimates produced by different news outlets: one account put local losses at nearly $350,000, while another review of city documents reported the collective losses at more than $320,000. The variation reflects differing methods of tallying reports and available documentation, city officials acknowledged.
Advocates for consumer protection have increasingly flagged cryptocurrency kiosks as high-risk venues for fraud, particularly when callers or online contacts instruct victims to purchase digital currency and send codes or tokens. Coral Springs’ ordinance aligns with a rising municipal focus on preventing financial exploitation of older residents.
Commissioners said they expect the ban to close a pathway scammers have exploited in Coral Springs and to discourage criminals who rely on the kiosks to move money. The city’s action also places Coral Springs among the first Florida localities to adopt a formal prohibition on such devices.
Further updates on implementation, enforcement and any legal responses to the ordinance are expected as the city moves to put the new rule into effect.
