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Committee adopts amendments and advances bill to regulate crypto ATMs, set transaction limits and refund rules
Summary
Senate Bill 79 — the Colorado Vending of Digital Assets Act — was amended and advanced by the House Finance Committee to impose disclosures, receipts and transaction limits for cryptocurrency kiosks; sponsors and witnesses emphasized protecting seniors and other vulnerable groups from fraud.
The House Finance Committee adopted an amendment and forwarded Senate Bill 79, the Colorado Vending of Digital Assets Act, to the Committee of the Whole with a favorable recommendation, 9‑3. The bill would require operators of cryptocurrency kiosks to disclose fees and exchange rates, print receipts and maintain refund processes; the committee adopted an amendment that set a $2,000 daily transaction limit for new customers, a $10,500 limit for existing customers and a 60‑day window for customers to seek refunds or report suspected fraud.
Sponsor Representative Marc Taggart described the measure as “a very basic consumer protection for virtual currency kiosk machines,” saying kiosks had become “a tool for fraud, particularly…
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