On September 15th, seven Democratic senators in the United States sent a letter to the 10 largest Bitcoin ATM operators in the country, urging them to address the issue of cryptocurrency scams targeting American seniors. The letter was sent to Athena Bitcoin, Bitcoin Depot, Bitstop, Byte Federal, Cash2bitcoin, Coinflip, Coinhub, Margo, Rockitcoin, and Unbank.

The letter stated, "We urge you to take immediate action to address the problem of Bitcoin ATMs (BTMs) being used to facilitate widespread financial fraud targeting American seniors." The senators argued that cryptocurrencies like Bitcoin have "long been associated with criminal activity" and "the relative anonymity and irreversibility of cryptocurrency transactions make them particularly attractive to scammers."

The letter also cited data from the Federal Bureau of Investigation (FBI) and the Federal Trade Commission (FTC). From 2020 to 2023, losses from BTM scams have skyrocketed from $12 million to $114 million. It added that seniors are "more than three times as likely to report losses from using BTMs as younger individuals."

The senators demanded that these companies take stronger measures to prevent scams and ensure their cryptocurrency ATMs are not being misused. They requested a response by October 4th outlining the details of their current measures.