Bravo, Ottawa is finally getting serious about preventing scammers from using crypto ATM’s to defraud seniors of their money.
Three years ago, after an incident with a Bitcoin ATM at the Cataraqui Mall, I met with our MP, Mark Gerretsen, and his assistant, and recommended banning them until all transactions can be traced. Until this week, I heard nothing.
For the past two days, the news is alight with headlines shouting:
CBC-Federal government plans to ban crypto ATMs to stop scammers...
Coindesk-Canada proposes ban on crypto ATMs as fraud cases mount
Finance Yahoo - Canadian Government Pushes for Sweeping Ban on Bitcoin, Crypto AT
Paymnts - Canada Moves to Outlaw Crypto ATMs Amid Rising Fraud |
Cryto economy-Canada Moves to Outlaw Crypto ATMs Amid Rising Fraud |
as these examples show.
At the CBC, Nicole Brockbank writes that “Canada has the most crypto ATMs per capita in the world, but currently has no industry-specific regulations. There are nearly 4,000 crypto ATMs across the country and more than 39,000 worldwide”. That is over 10% of the World’s crypto machines.
Earlier this year Al Landes at Yahoo News reported that “Americans lost $333.5 million to Bitcoin ATM scams in 2025 alone. That’s nearly triple the $114 million lost in 2023. The victims? Mostly seniors with a median age of 71, losing an average of $15,600 each to smooth-talking phone fraudsters who direct them to those innocuous-looking crypto kiosks in your local gas station.
As an 86-year-old senior, I’ll be happier when legislation is enacted to truly ban the crypto machines. 
However, when I met with MP Garretsen, I also proposed another ban; this one on gift cards over $50. Scammers love to use high-denomination gift cards, especially the $500 Visa and Mastercard ones. After you make the purchase, they ask for the number under the scratched-off portion, and once they have it, your money is gone and untraceable.
Typically, scammers call, pretending to be bank representatives, and ask for your help in tracking down someone who has misused your account. They do not want just one or two; they want 10 or $5000. It’s less work and more money. Beware near Christmas time.
There is no reason Visa and Mastercard can’t develop a tracking system, or why the banks that issue their cards don’t insist that they create one.
Canada is just catching up to the UK with their crypto machine ban; it is time it leapfrogged the UK and banned high-denomination gift cards as well.