Jody Weis, former Superintendent of the Chicago Police Department, has expressed support for bitcoin kiosks, describing them as transparent tools beneficial to law enforcement. He advocates for targeted safeguards rather than outright bans. This statement was made on The Well News.
"But the kiosks are not the villains in this story, the villains are the scammers who are perpetrating the crimes," said Weis. "They're simple to use, and, most importantly, their transactions are transparent and traceable. A common misconception is that these kiosks are an unregulated service. I'll be the first to say we need strong regulations to protect consumers."
According to a commentary by The Well News, Weis argues that crypto kiosks provide communities with a straightforward cash-to-crypto conversion option. He suggests that their digital records can enhance investigations. Weis calls for policymakers to implement measures that effectively reduce victimization, such as blockchain analytics to identify high-risk activities, prominent scam warnings on screens, robust compliance mechanisms, and live customer support. He warns that banning these kiosks could drive consumers towards unsafe alternatives and compromise public safety.
CoinFlip, a fintech company based in Chicago, claims to operate the world's largest network of cryptocurrency kiosks by transaction volume, with over 5,500 machines across the United States and internationally. The company highlights its consumer protection measures, including educational resources and clear disclosures. CoinFlip's materials outline a safety framework emphasizing caution before purchase and strong compliance practices.
The Federal Trade Commission (FTC) reports that consumer losses from scams involving Bitcoin kiosks have increased nearly tenfold since 2020, reaching $110 million in 2023. These scams often involve scripted urgency, QR code routing, and irreversible transfers. The FTC underscores the importance of layered defenses such as on-screen warnings, decision pauses like CoinFlip’s "Safe in Six," trained live agents who can intervene during transactions, and rapid subpoena support for investigations.
Weis is currently a Director in Accenture’s Public Safety business for North America and is also involved with the Secure Community Network’s National Security Advisory Council. His extensive experience in leading investigative operations informs his advocacy for practical standards that maintain regulated bitcoin kiosks while enhancing scam prevention and collaboration with law enforcement.