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Senate committee adopts substitute for bill to regulate virtual‑currency kiosks after sponsor cites Iowa fraud findings
Summary
The Senate Committee on Business & Commerce adopted a committee substitute for Senate Bill 17‑05 to regulate virtual‑currency kiosks, adding enforcement tools, receipts and signage requirements and setting an effective date of Sept. 1, 2025.
The Senate Committee on Business & Commerce adopted a committee substitute for Senate Bill 17‑05 to regulate virtual‑currency kiosks, commonly called cryptocurrency ATMs, and favorably reported the substitute to the full Senate.
Senator Parker, who explained the substitute, told the committee the revised measure was drafted to address misuse of kiosks for scams, money laundering and other illicit transactions. The committee substitute extends response times, clarifies receipt requirements…
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