Bill
Bill > HF3642
summary
Introduced
02/23/2026
02/23/2026
In Committee
03/23/2026
03/23/2026
Crossed Over
Passed
Dead
Introduced Session
94th Legislature 2025-2026
Bill Summary
A bill for an act relating to commerce; prohibiting virtual currency kiosks; providing for customer payouts; amending Minnesota Statutes 2024, section 53B.69, subdivision 10; proposing coding for new law in Minnesota Statutes, chapter 53B; repealing Minnesota Statutes 2024, sections 53B.69, subdivisions 3b, 3c; 53B.75, subdivisions 1, 2, 3, 4, 5.
AI Summary
This bill prohibits the installation, operation, and maintenance of virtual currency kiosks, which are electronic terminals or individuals facilitating the exchange of virtual currency for money or other virtual currency, starting August 1, 2026. By December 31, 2026, operators must remove these kiosks from public view and provide payouts to customers for any money or virtual currency held for them, either in U.S. dollars based on market value or transferred to a designated virtual currency wallet, with these payouts recorded on the blockchain. An exception exists if the operator offers other lawful ways for customers to access or transact their virtual currency. The bill also repeals existing laws related to virtual currency kiosk disclosures, transaction limits, and definitions of new and existing customers.
Committee Categories
Business and Industry
Sponsors (8)
Erin Koegel (D)*,
Ben Bakeberg (R),
Mike Freiberg (D),
Jess Hanson (D),
Kelly Moller (D),
Paul Novotny (R),
Bernie Perryman (R),
Jeff Witte (R),
Last Action
Author added Hanson, J. (on 04/07/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.revisor.mn.gov/bills/94/2026/0/HF/3642/ |
| BillText | https://www.revisor.mn.gov/bills/94/2026/0/HF/3642/versions/1/pdf/ |
| BillText | https://www.revisor.mn.gov/bills/94/2026/0/HF/3642/versions/0/pdf/ |
Loading...