Consumer protection: other; cryptocurrency kiosks; prohibit the installation and operation of. Creates new act. TIE BAR WITH: HB 5987'26

This bill prohibits the installation and operation of cryptocurrency kiosks in Michigan, which are defined as automated terminals used to buy, sell, or exchange money for digital currency. It directly affects businesses and individuals who own or manage these kiosks, as well as property owners who allow them on their premises. Violations of the ban could result in daily fines of up to $100 and the suspension of any existing lottery sales agent licenses for 90 days. The law includes specific reporting requirements for prosecutors and the attorney general regarding enforcement actions. The bill will not take effect unless it is tied to a companion bill, HB 5987, which is also required to be enacted into law.