Committee opens path for stricter oversight of crypto kiosks; plans a dedicated licensing approach
After testimony from banks, law enforcement and consumer groups about large losses and frequent scams, the committee agreed to develop a separate licensing and rulemaking approach for virtual currency kiosks rather than rely on existing money‑transmitter exemptions.
The full story
Lawmakers and state regulators signaled they will pursue a tailored regulatory framework for so‑called virtual currency kiosks after a lengthy hearing that included law‑enforcement reports of fraud, testimony from banks and credit unions about member losses, and industry witnesses urging consistent licensing.
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