Iowa Attorney General Brenna Bird announced that a new state law protecting Iowans from losing money to scammers through cryptocurrency ATMs goes into effect today.        

¢â‚¬Å“The legislature acted when they saw how frequently cryptocurrency ATMs were being used by scammers to steal from Iowans, ¢â‚¬ � said Attorney General Bird. ¢â‚¬Å“Today, cryptocurrency ATM companies across our state are required to provide better disclosures, clearer warnings, and lower fees. This law strengthens protections for Iowans. ¢â‚¬ �  

To help Iowans understand what the new law means, Attorney General Bird ¢â‚¬â„¢s office released a Cryptocurrency ATM Law FAQ, available  here. The  FAQ explains what the law does, how to report violations of the law, and how to get a refund if they put money in a cryptocurrency ATM because of a scam.    

Even before this new law, Attorney General Bird acted to protect Iowans who were tricked into using cryptocurrency ATMs. In February, her office ¢â‚¬â„¢s Consumer Protection Division sued two cryptocurrency companies for violations of Iowa ¢â‚¬â„¢s Consumer Fraud Act and the loss of millions of dollars of Iowans ¢â‚¬â„¢ hard-earned money. Read the lawsuits  here.      

If you or someone you know has put money into a cryptocurrency ATM because of a scam, contact the Iowa Attorney General ¢â‚¬â„¢s office at 1-888-777-4590 or  cryptoscam@ag.iowa.gov.  You can also file a complaint online at  https://www.iowaattorneygeneral.gov/for-consumers/file-a-consumer-complaint. If you believe a cryptocurrency ATM operator is not following the law, file a complaint with the Consumer Protection Division  here.