SB 98 South Dakota Senate · 2026 Regular Session

prevent virtual currency kiosk fraud.

SB 98 requires operators of virtual currency kiosks in South Dakota to obtain a license under existing financial regulations (Chapter 51A-17). It mandates detailed reporting to the state, including transaction volumes, user complaints, refund requests, and suspicious activity. The bill also requires kiosk operators to provide users with receipts containing transaction details, exchange rates, virtual currency addresses, and refund policies. These provisions directly affect kiosk operators (licensees) and users engaging in virtual currency transactions at these locations. The law aims to increase transparency and accountability in virtual currency kiosk operations.

Issues: ✓ Technology

Bill status signed all 5 stages cleared

Introduction

Jan 2026

Committee Review

Mar 2026

Senate Passage

Feb 2026

House Passage

Mar 2026

Signed into Law

Mar 2026

Introduced Jan 20, 2026 Signed Mar 12, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

Senate Commerce and Energy Engrossed → Enrolled · 6 edits · Mar 4, 2026

MODERATE

This bill adds new requirements for virtual currency kiosks in South Dakota, mandating that operators be licensed, provide detailed receipts to users, and submit comprehensive reports to regulators. The changes aim to prevent fraud by increasing transparency and accountability for businesses facilitating virtual currency transactions.

Scope change

The bill expands regulatory oversight to virtual currency kiosks, requiring them to comply with existing money transmission licensing rules and submit additional reporting requirements.

DEFINITION

New definitions for virtual currency, virtual currency kiosks, and related terms to clarify what the law covers.

ELIGIBILITY

Virtual currency kiosk operators must now be licensed under existing money transmission laws to operate in South Dakota.

REQUIREMENT

Licensees must provide users with receipts containing transaction details, exchange rates, fees, and refund policy information.

Licensees must submit detailed renewal reports including transaction volumes, complaint histories, refund data, and suspicious activity reports.

Condition reports must include kiosk locations, operational dates, and transaction decline statistics related to suspected fraud.

Users must receive clear disclosures in their chosen language describing material risks associated with virtual currency transactions.

Floor votes · Senate Feb 17, 2026 · House Mar 3, 2026

How they voted

31–2

Passed · 2 other

Total votes 35

Feb 17, 2026

D Democratic3

3 Yea

100% Yea

R Republican32

28 Yea 2 Nay 2

87% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Mar 12, 2026

Signed into law

Signed by the Governor on 2026-03-12 S.J. 529

executive

Mar 5, 2026

Lower · Passed

Signed by the Speaker H.J. 530

lower

Mar 4, 2026

Lower · Passed

Signed by the President S.J. 470

lower

Mar 3, 2026

Lower · Passed

House of Representatives Do Pass Amended , Passed, YEAS 59, NAYS 7 H.J. 492

lower

Mar 3, 2026

House · Passed

House Vote: pass (59-7-4)

house

Mar 2, 2026

Lower · Passed

Commerce and Energy Do Pass , Passed, YEAS 10, NAYS 2

lower

Feb 18, 2026

Introduced

First read in House and referred to House Commerce and Energy H.J. 355

lower

Feb 17, 2026

Upper · Passed

Senate Do Pass Amended , Passed, YEAS 31, NAYS 2 S.J. 284

upper

Feb 17, 2026

Senate · Passed

Senate Vote: pass (31-2-2)

senate

Feb 10, 2026

Upper · Passed

Certified uncontested, placed on consent , Passed,

upper

Feb 10, 2026

Upper · Passed

Commerce and Energy Do Pass Amended , Passed, YEAS 7, NAYS 0

upper

Feb 10, 2026

Introduced

Commerce and Energy Motion to amend , Passed, Amendment 98C

upper

Jan 20, 2026

Introduced

First read in Senate and referred to Senate Commerce and Energy S.J. 66

upper

19 primary · 0 co-sponsors