Oklahoma’s New Law Aims to Combat Bitcoin ATM Scams Targeting Seniors

Oklahoma has enacted a new law aimed at combatting cryptocurrency ATM scams, particularly to protect older adults who are frequent victims. Senator Darrell Weaver emphasized the need for consumer rights in this area, allowing potential civil action against scammers. The AARP has expressed support, noting the vulnerable position of older residents. The law is set to take effect in November 2025.

On June 6th, 2025, a new law in Oklahoma was signed with the aim of tackling scams linked to cryptocurrency ATMs, particularly those targeting older adults. Cryptocurrency ATMs, which resemble traditional bank machines, have become tools for scammers. Often, victims are misled into depositing cash then scanning a QR code, sending their funds to the scammer’s digital wallet without realising it.

Scammers have been zeroing in on older Oklahomans. A notable case last year involved a 92-year-old woman who lost thousands at a Bitcoin kiosk located in Woodland Hills Mall. Sadly, after depositing cash, she was also attacked by a thief who took the remainder of her funds. It appears many of these scams are being run from abroad, intensifying concerns.

Senator Darrell Weaver, a key figure behind the new legislation, emphasises that this bill is aimed straight at protecting Oklahomans from these deceptive practices. He stated, “You can be sued civilly if you scam people. There were no real laws to regulate this before. Now, people at least have a path to try and get their money back.” This clearly indicates a shift in Oklahoma’s approach to consumer protection in the cryptocurrency space.

The AARP of Oklahoma has pointed out that seniors often fall victim to such scams more frequently, with potentially larger financial losses. A representative from the AARP commented on this, saying, “Older Oklahomans should not have to worry about criminals stealing the savings they worked so hard to accumulate for retirement.” Indeed, the stakes are high for this demographic.

While lawmakers praise the new law as a vital and necessary first step, they also recognise that enhancements may be needed in the future. Sen. Weaver has suggested, “We may have to come back next year and look at something differently. But at least we’ve got some minimal safeguards in place to help our elderly.” This highlights a willingness to adapt the legislation as necessary.

The new law is set to take effect this November. If you or someone you know falls victim to a cryptocurrency ATM scam, it will be important to seek advice and action promptly, with this legislative change providing a new avenue for justice.