Relates to crypto kiosks

Summary

The bill adds a new article to the Banking Law that obligates anyone operating a crypto kiosk or a cashier‑run crypto exchange in New York to obtain a state license and follow strict disclosure, fee, and anti‑fraud rules. It also mandates clear warning messages to users before transactions and sets limits on transaction holds and AML reporting. The measures aim to protect consumers and curb scams involving virtual currency.

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

Topics

Share