Bill > HB1264

This bill, known as the Virtual Currency Kiosk Consumer Access and Protection Act, establishes regulations for digital asset kiosks, which are machines allowing consumers to exchange traditional currency (fiat currency) for digital assets like cryptocurrencies, or vice versa. To operate these kiosks, businesses must obtain a money transmission license from the state's designated department. Operators are required to report the locations of their kiosks annually and must display clear disclosures on the kiosk interface, including all fees, exchange rates, a warning that digital asset transactions are final and not insured, and common fraud warnings advising users to be wary of third-party pressure or requests for payment via kiosk. A prominent contact number for assistance or fraud reporting must also be visible. Upon completing any transaction, customers must receive a detailed receipt. The bill also introduces new customer transaction limits, restricting new customers to $3,000 per day for the first three days of their interaction with a kiosk operator, with this limit subject to annual adjustment for inflation. Furthermore, the bill brings forward and incorporates sections of the Money Transmission Modernization Act, which provides definitions and regulations for money transmission businesses, including licensing requirements, operational standards, and penalties for violations, applying them to the context of virtual currency kiosks.

Business and Industry

https://billstatus.ls.state.ms.us/2026/pdf/history/HB/HB1264.xml