Bill > SB1510

This bill modifies the Virtual Currency Kiosk Consumer Protection Act by establishing new requirements for virtual currency kiosk operators, which are businesses that allow people to exchange traditional money (fiat currency) for digital currencies like Bitcoin or vice versa. Key provisions include requiring operators to use blockchain analytics software to help prevent transactions with known fraudulent digital wallet addresses, provide live customer service during specific hours, and implement written anti-fraud and enhanced due diligence policies to identify and protect vulnerable individuals. The bill also mandates the designation of full-time compliance and consumer protection officers, requires operators to report the locations of their kiosks quarterly, and clarifies that operating such kiosks constitutes money transmission, necessitating a money transmitter license. Furthermore, it grants the Attorney General the authority to bring civil actions against operators for violations, seeking penalties and injunctions, and establishes an electronic system for reporting violations. Important terms defined include "virtual currency" as a digital unit used as a medium of exchange or stored value, "blockchain" as a decentralized digital ledger, and "blockchain analytics" as software that assesses risk associated with digital wallet addresses. The bill also emphasizes that virtual currency is not government-backed and lacks protections like federal deposit insurance.

Business and Industry

https://www.senate.mo.gov/BillTracking/Bills/BillInformation?year=2026&BillID=74595