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GRAND ISLAND, Neb. — The Grand Island Police Department and AARP Nebraska have joined forces with local businesses to enforce a new ordinance aimed at protecting residents from cryptocurrency-related scams. Ordinance No. 10051, which took effect on Nov. 20, mandates that all cryptocurrency kiosks, ATMs and Bitcoin Teller Machines within Grand Island display a standardized fraud warning sign. This measure is intended to safeguard residents, particularly older adults, from scams that often result in significant financial losses.
The ordinance, approved by the Grand Island City Council on Nov. 4, amends Chapter 25 of the city code and introduces Article III, “Cryptocurrency Machines.” Businesses failing to comply with the ordinance face a civil penalty of $500 per day.
Jina Ragland, senior associate state director of AARP Nebraska, emphasized the importance of consumer protections, stating, “We believe strong consumer protections against fraud are needed as cryptocurrency used as payment for scams is a fast-growing problem.” She highlighted the devastating financial and emotional impact of fraud on victims, especially older adults.
On Dec. 19, police officers and AARP volunteers visited local businesses to place warning stickers on machines and educate owners and employees about the ordinance and the signs of cryptocurrency-related scams. Residents seeking more information or wishing to report suspected fraud can visit www.gipolice.org/cryptoscamwarning.