December 1, 2024December 1, 2024

Spokane City Council to vote on cryptocurrency scam resolution

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SPOKANE, Wash. — Spokane City Council will soon vote on a resolution that could help protect people from cryptocurrency scams.

The resolution would support changing a state law to limit the amount of currency people can withdraw from cryptocurrency kiosk, in hopes it would enhance security.

According to the Federal Trade Commission, in 2023, reports of imposter scams in Washington were at the highest rate per million population than any other state reporting that type of fraud.

A Spokane woman spoke to 4 News Now in May about her experience falling victim to a cryptocurrency scam and losing over $300,000.

Spokane City Council will vote on the proposed resolution Monday night.

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