Bill > SF2296

This bill modifies regulations concerning digital financial kiosks, which are electronic terminals that allow operators to facilitate the exchange of digital financial assets, defined as digital representations of value used as a medium of exchange, unit of account, or store of value, but excluding certain rewards programs and in-game currencies. Key changes include updating how the "prevailing market value" of a digital financial asset is determined for transactions, clarifying that operating such a kiosk requires a money transmission license, and designating violations of these regulations as unlawful practices under existing consumer protection laws. The bill also increases the potential civil penalty for violating an injunction related to these practices to up to one hundred thousand dollars, and it specifies that the Attorney General has the authority to bring civil actions for violations. The bill takes effect immediately upon enactment and applies to civil actions started on or after that date.