2.1.
| CC Work Session |
| Meeting Date: | 10/28/2025 |
| Primary Strategic Plan Initiative: | {ud_pd2} |
Information
Title:
Cryptocurrency Ordinance Presentation
Purpose/Background:
The Ramsey Police Department Investigators and Crime Data Analyst observed a noted increase in cryptocurrency fraud cases in Ramsey, specifically at cryptocurrency ATMs located at local Ramsey businesses. In an effort to keep the City Council current, this presentation provides a communication update and seeks Council direction on whether we should move ahead with the creation of a City of Ramsey Cryptocurrency Ordinance, with the intent of adopting that ordinance. The goal of this ordinance would be to protect Ramsey residents from fraud. Ramsey Investigator Derek Anderson will give this presentation.
Time Frame/Observations/Alternatives:
While there is no specific timeline, as you will see in the presentation, the number and dollar amount of these fraud cases are increasing exponentially. Therefore, the sooner we can introduce this new ordinance, the better for the Ramsey citizens and police department.
Funding Source:
The police department plans to request funds in the 2027 budget to assist in investigating cryptocurrency fraud cases.
Recommendation:
Staff recommends creating and then introducing the ordinance after consultation with the city attorney.
Outcome/Action:
City council consensus to create a City of Ramsey cryptocurrency kiosk ordinance.
Attachments
Form Review
| Inbox | Reviewed By | Date |
|---|---|---|
| Brian Hagen | Brian Hagen | 10/23/2025 01:45 PM |
- Form Started By:
- Brad Bluml
- Started On:
- 10/23/2025 10:14 AM
- Final Approval Date:
- 10/23/2025