Bill > HB2515

This bill, known as the Virtual Currency Kiosk Consumer Protection Act, establishes new regulations for operators of virtual currency kiosks, which are electronic terminals used to exchange money for virtual currency or vice versa. Key provisions include requiring operators to provide clear disclosures about the risks of virtual currency, such as its volatility and lack of government backing, and to offer detailed transaction receipts. Operators must also implement fraud detection and prevention measures, provide live customer service, and report kiosk locations to the state. Furthermore, the bill imposes limits on transaction amounts and charges, with a maximum indirect charge of 18% of the transaction amount or $5. The Attorney General and law enforcement agencies are authorized to investigate fraudulent money transmissions and report findings to the state bank commissioner. The bill also amends existing laws related to money transmission, requiring virtual currency kiosk operators to be licensed as money transmitters and to comply with enhanced due diligence and anti-fraud policies, while also introducing specific definitions for terms like "blockchain" and "digital wallet."

Business and Industry, Labor and Employment

Financial Institutions and Pensions (House)

https://kslegislature.gov/li/b2025_26/measures/hb2515/