summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to protect consumers in cryptocurrency exchanges. Financial Services.
AI Summary
This bill aims to protect consumers in cryptocurrency exchanges. It requires virtual currency platforms that engage with Massachusetts customers to register with the Division of Banks, pay an annual assessment fee, and maintain compliance policies. The bill also mandates risk disclosures, customer complaint policies, and advertising requirements. Additionally, it establishes a Virtual Currency Insurance Fund to provide grants to eligible Massachusetts customers who have lost money due to a virtual currency exchange service's inability to meet its monetary obligations.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Accompanied a study order, see S2636 (on 02/12/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S690 |
| BillText | https://malegislature.gov/Bills/193/S690.pdf |
Loading...