Bill > HB2387

This bill establishes comprehensive regulations for cryptocurrency kiosks in Arizona, requiring operators to implement robust fraud prevention measures and consumer protections. The legislation mandates that kiosk operators provide clear, conspicuous disclosures to customers about potential fraud schemes, including warnings about common scams like impersonation, identity theft, and fraudulent transaction claims. Operators must obtain customer acknowledgment of these disclosures and provide detailed receipts in the customer's chosen language, including transaction specifics, contact information, enforcement agency details, and exchange rates. The bill limits daily transaction amounts for new customers to $2,000 and existing customers to $10,500, and requires operators to use blockchain analytics software to prevent transactions to known fraudulent wallets. Cryptocurrency kiosk operators must maintain 24/7 customer service, establish written anti-fraud policies, and comply with federal consumer and anti-money laundering laws. Importantly, if a new customer is fraudulently induced into a transaction, they can receive a full refund if they report the incident to the operator and law enforcement within 30 days. The Attorney General is designated to enforce these regulations, with violations considered a breach of existing consumer protection statutes.

Business and Industry, Justice

https://apps.azleg.gov/BillStatus/BillOverview/82176