Detective Jones of the Union Police Department raised concerns about cryptocurrency kiosks — commonly called Bitcoin ATMs — during a meeting of the Mayor and Board Commissioners, saying the devices have played a role in 16 local fraud cases this year that together cost Enid residents about $261,637.

The presenter (referred to in the transcript as Speaker 2) described how scammers instruct victims to withdraw cash and convert it to Bitcoin at a kiosk, often providing the wallet address so the victim immediately loses access to the funds. "These kiosks often come with exorbitant fees, around 25%," Speaker 2 said, and added that kiosks are commonly located in convenience stores and other retail locations.

The presenter proposed an "outright ban on these machines, at least until we can get the case law settled," saying the ban could be lifted in future if state law and industry practices better protected victims. Commissioners and staff discussed potential legal limits: the transcript cites Title 75A as affirming Oklahomans' rights to possess and transfer cryptocurrency and references "Senate Bill 10 83" (passed after an initial veto) as new state regulation that places obligations on kiosk operators.

City staff/legal counsel (Speaker 9) told the board research is ongoing and said the Banking Department will regulate kiosks under new licensing rules that include a $500,000 bond requirement and fraud-prevention plans for operators. "They actually have to obtain a $500,000 bond," Speaker 9 said. Staff also noted the Internet Crimes Complaint Center (IC3) publishes national statistics that are included in the meeting packet.

Commissioners asked whether a municipal ban would be preempted by state law or by statutes that affirm citizens' rights to buy, sell and hold cryptocurrency. The presenters said the state statutes complicate a city-level ban but that other municipalities have enacted local prohibitions; the transcript lists locations described as "Stillwater, Michigan" and Spokane, Washington as recent examples.

Speakers also emphasized prevention and outreach: a commissioner suggested public service announcements through the communications department to educate residents, and staff urged victims to contact police rather than immediately following instructions from callers. The presenter noted that of the 16 local cases he cited, 12 victims were over age 70 and one case involved a loss of $70,000.

Next steps recorded in the meeting: staff will continue researching legal authority and case law, coordinate with the Banking Department and law enforcement contacts, and pursue outreach through existing elder-abuse and fraud-prevention partnerships. Commissioners asked to be kept informed and expressed support for measures that could reduce scams against vulnerable residents.

The meeting closed with commissioners thanking staff for the report and asking for follow-up as the Banking Department implements licensing rules and staff refines legal options.