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Lawmakers hear bill to license and regulate cryptocurrency kiosks in Missouri
Summary
Rep. David Castile presented HB 1428 to designate the Division of Finance as regulator of virtual-currency kiosks, requiring licensure, visible fee disclosures, blockchain-wallet screening, and live customer service; CoinFlip's general counsel testified in favor, citing federal Anti‑Money‑Laundering obligations and state licensing gaps.
Representative David Castile presented House Bill 1428, the "Virtual Currency Kiosk Consumer Protection Act," which would require licensure for operators of virtual‑currency kiosks, require clear fee and scam disclosures on machines, mandate blockchain‑wallet screening to block high‑risk addresses, and require live customer service for kiosk transactions.
Castile told the committee the bill aims to protect consumers who use cash to buy or sell major cryptocurrencies at kiosks, and that Missouri currently lacks licensing or regulatory standards specific to those machines. He said the bill would designate the state Division…
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