The kiosks take cash and convert it to crypto, and sit in gas stations and convenience stores. The Texas Tribune counts about 4,000 across the state. Scammers persuade victims to withdraw money from their bank accounts and feed it into a machine.
What lawmakers heardJesse Saucillo, deputy commissioner at the Texas Department of Banking, said recovery is close to impossible once the money moves. Funds typically go to an unhosted wallet, he said, which then "gets into a mixer" and beyond, leaving it "very hard to get any of that back." AI-generated impersonation of police and state agencies is making the approach calls more convincing, he added.
Crypto kiosks in the U.S.Committee chair Rep. Cole Hefner said Texas would look at "doing more than regulating them," and hinted at a bill. "I got a pretty good idea coming down," he told colleagues. "And it's kind of simple, but kind of abrupt."
