summary
Introduced
04/15/2026
04/15/2026
In Committee
04/15/2026
04/15/2026
Crossed Over
Passed
Dead
Introduced Session
194th General Court
Bill Summary
For legislationfor legislation to establish regulations on certain virtual currencies for fraud prevention, report the accompanying bill (Senate, No. 3048).
AI Summary
This bill, titled the "SCAM Act," proposes to prohibit the operation of virtual currency kiosks, which are electronic terminals that facilitate the exchange of virtual currency for money or other virtual currency, within the Commonwealth of Massachusetts. A "virtual currency kiosk operator" is defined as any person or entity engaging in such business activity through these kiosks in Massachusetts. Violating this prohibition will be considered a violation of Chapter 93A of the general laws, which deals with unfair and deceptive trade practices. The Attorney General is empowered to take legal action against operators and, importantly, against property owners who knowingly allow these kiosks on their premises. If a court finds a knowing violation, penalties can include forfeiture of all charges collected from users, forfeiture of the kiosks themselves, and reimbursement of investigation costs to the Attorney General.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Joint Committee on Financial Services (Joint)
Last Action
Bill reported favorably by committee and referred to the committee on Senate Ways and Means (on 04/15/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/194/S3048 |
| BillText | https://malegislature.gov/Bills/194/S3048.pdf |
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