GRAND ISLAND, Neb. — The Grand Island Police Division and AARP Nebraska have joined forces with native companies to implement a new ordinance aimed toward defending residents from cryptocurrency-related scams. Ordinance No. 10051, which took impact on Nov. 20, mandates that every one cryptocurrency kiosks, ATMs and Bitcoin Teller Machines inside Grand Island show a standardized fraud warning signal. This measure is meant to safeguard residents, significantly older adults, from scams that always end in important monetary losses.
The ordinance, permitted by the Grand Island Metropolis Council on Nov. 4, amends Chapter 25 of town code and introduces Article III, “Cryptocurrency Machines.” Companies failing to adjust to the ordinance face a civil penalty of $500 per day.
Jina Ragland, senior affiliate state director of AARP Nebraska, emphasised the significance of shopper protections, stating, “We imagine sturdy shopper protections in opposition to fraud are wanted as cryptocurrency used as fee for scams is a fast-growing drawback.” She highlighted the devastating monetary and emotional influence of fraud on victims, particularly older adults.
On Dec. 19, law enforcement officials and AARP volunteers visited native companies to place warning stickers on machines and educate house owners and staff concerning the ordinance and the indicators of cryptocurrency-related scams. Residents in search of extra data or wishing to report suspected fraud can go to www.gipolice.org/cryptoscamwarning.
