An Act To Regulate Virtual Currency Kiosks

LD 1339 (An Act to Regulate Virtual Currency Kiosks) establishes regulations for unstaffed machines that exchange cash for digital currency (virtual currency kiosks). It requires operators to obtain a money transmitter license, disclose kiosk locations to the state, and maintain detailed transaction records (including customer data, video, and biometrics) for 3 years. The bill imposes a daily $1,000 transaction limit per customer, caps fees at $5 or 3% of the transaction value, mandates clear risk disclosures about fraud and exchange rates, and requires itemized receipts. Operators must also issue refunds within 90 days for transactions involving proven fraud or deceptive practices.