Older Texans Say It's Time to Crack Down on Cryptocurrency Kiosk Fraud

Older Texans recognize the risk of cryptocurrency fraud, but don’t feel prepared to respond

Older Texans are familiar with the risks associated with cryptocurrency, but most report knowing very little about how cryptocurrency works. Nearly 7 in 10 Texas adults age 50-plus (69%) say they know not much or nothing at all about cryptocurrency, and knowledge of cryptocurrency kiosks, often called crypto ATMs, is even lower, with 83% reporting little or no knowledge of these machines.

Despite these knowledge gaps, awareness of fraud is widespread. Two-thirds (67%) have heard of cryptocurrency being used for fraud or scams.

Awareness of the threat, however, does not translate into preparedness. Only 26% of older Texans say they are confident they would know what steps to take if they experienced a cryptocurrency scam, while 73% say they are not confident. The findings reveal a substantial gap between recognizing the risk of cryptocurrency fraud and knowing how to respond when it happens.

Older Texans want stronger protections against cryptocurrency kiosk fraud

Support for consumer protections is broad and bipartisan. Nearly 9 in 10 older Texans support a variety of safeguards designed to reduce fraud involving cryptocurrency kiosks.

• 93% support requiring fraud warnings on machines that explain what to do if fraud is suspected.
• 91% support requiring refunds for transactions proven to be fraudulent.
• 89% support requiring operators to obtain a state license.
• 88% support establishing consumer protections similar to those required for other financial services.
• 84% support setting transaction limits to help prevent large financial losses.

Across political parties, 88% agree that safeguards for cryptocurrency kiosks are about preventing criminal activity, not restricting innovation. Texans view these protections as common-sense measures designed to reduce fraud and protect consumers from financial harm.

Support for consumer protection extends to the ballot box

Older Texans are not only supportive of stronger safeguards but also more likely to support candidates who advocate for them.

Nearly two-thirds (65%) say they would be more likely to vote for a candidate for state office who supports stronger protections against cryptocurrency kiosk fraud. Similarly, 69% would be more likely to support a candidate for local office who advocates for increased protections.

These findings suggest that older Texans view cryptocurrency kiosk fraud as a consumer safety issue deserving attention from policymakers at every level of government. Support for stronger protections crosses political party lines and extends beyond general attitudes into voting preferences.

Many older Texans support banning cryptocurrency kiosks altogether

Concern about fraud goes beyond support for safeguards. A majority of older Texans  (59%) support banning cryptocurrency kiosks in Texas altogether.

In addition, nearly half (47%) say they would be more likely to vote for candidates for state or local office who support banning cryptocurrency kiosks to prevent fraud. That percentage is more than twice the percentage who say they would be less likely to vote for candidates who support a ban, reflecting broader support for a ban than opposition to one.  

The findings suggest that older Texans view cryptocurrency kiosk fraud as a consumer protection problem that requires more than individual vigilance. They overwhelmingly support stronger safeguards, are more likely to support candidates who champion those protections, and many favor banning the machines altogether. Taken together, these results provide strong evidence that Texas residents age 50-plus want lawmakers to take meaningful action to better protect consumers from cryptocurrency kiosk fraud.

Methodology

These findings are based on a survey of 1,002 Texas residents age 50-plus conducted June 24 through July 8, 2026. Interviews were completed by telephone (landline and cellphone) and text-to-web using a randomly selected sample of Texas residents age 50-plus. Data were weighted by age, gender, race, ethnicity, region, education, and AARP membership penetration.

For more information, please contact Joanne Binette at jbinette@aarp.org. For media inquiries, contact Mark Hollis at mhollis@aarp.org.