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CC Work Session <br />Meeting Date: <br />10/28/2025 <br />Primary Strategic Plan Initiative: Enhance City's communication through transparency and accountability. <br />Information <br />Title: <br />Cryptocurrency Ordinance Presentation <br />2. 1. <br />Purpose/Background: <br />The Ramsey Police Department Investigators and Crime Data Analyst observed a noted increase <br />in cryptocurrency fraud cases in Ramsey, specifically at cryptocurrency ATMs located at local Ramsey <br />businesses. In an effort to keep the City Council current, this presentation provides a communication update and <br />seeks Council direction on whether we should move ahead with the creation of a City of Ramsey Cryptocurrency <br />Ordinance, with the intent of adopting that ordinance. The goal of this ordinance would be to protect Ramsey <br />residents from fraud. Ramsey Investigator Derek Anderson will give this presentation. <br />Time Frame/Observations/Alternatives: <br />While there is no specific timeline, as you will see in the presentation, the number and dollar amount of these <br />fraud cases are increasing exponentially. Therefore, the sooner we can introduce this new ordinance, the better for <br />the Ramsey citizens and police department. <br />Funding Source: <br />The police department plans to request funds in the 2027 budget to assist in investigating cryptocurrency fraud <br />cases. <br />Recommendation: <br />Staff recommends creating and then introducing the ordinance after consultation with the city attorney. <br />Outcome/Action: <br />City council consensus to create a City of Ramsey cryptocurrency kiosk ordinance. <br />Forest Lake Ordinance <br />Stillwater Ordinance <br />Attachments <br />Form Review <br />lnbox Reviewed By Date <br />Brian Hagen Brian Hagen 10/23/2025 01:45 PM <br />Form Started By: Brad Bluml Started On: 10/23/2025 10:14 AM <br />Final Approval Date: 10/23/2025 <br />