The regulation banning cryptocurrency ATMs in Albuquerque, USA, has officially taken effect, with violators fined $500 per day.

PANews October 23 news, according to Bitcoin.com News, under the newly effective Virtual Currency Ordinance in Albuquerque, New Mexico, businesses operating or installing cryptocurrency ATMs in the city must immediately cease operation of the relevant devices. The announcement explicitly states that December 5 is the deadline for physical removal of the equipment, giving operators 45 days to remove the self-service terminals. Violations may face a fine of $500 per day and revocation of business licenses. Residents may still legally hold, mine, and privately transfer cryptocurrencies.

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