Virtual currency kiosks; require licensure in accordance with Money Transmission Modernization Act.

Summary

The law makes it illegal to run a crypto‑cash kiosk without a money‑transmitter license and forces operators to give clear warnings about virtual‑currency risks, provide receipts, and follow transaction limits for new and existing users. It also bans misleading use of the term “ATM” and gives the state banking commissioner authority to enforce these rules. The aim is to protect consumers, especially vulnerable adults, from fraud and other harms.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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