Bill > SB079

This bill establishes the Colorado Vending of Digital Assets Act, which regulates virtual currency kiosks in the state by introducing comprehensive consumer protection measures. The legislation defines key terms like "virtual currency" (a digital unit used as a medium of exchange) and "virtual currency kiosk" (an electronic terminal facilitating currency exchanges), and mandates that kiosk operators provide clear, conspicuous disclosures to customers about material risks, transaction details, and terms and conditions. Operators must warn customers about potential fraud, display a specific warning message, and provide detailed electronic receipts for each transaction. The bill also implements transaction limits based on customer status, with new customers restricted to $2,000 daily and existing customers allowed up to $10,500 daily. Additionally, the law provides a refund mechanism for first-time customers who can prove a transaction was fraudulent, requiring operators to issue a full refund within 72 hours if certain conditions are met. The act is set to take effect on January 1, 2026, with provisions for potential referendum, and aims to protect consumers engaging in virtual currency transactions at public kiosks by ensuring transparency and reducing fraud risks.

Budget and Finance, Justice

https://leg.colorado.gov/bills/sb25-079