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Senate tweaks increase single‑day transaction limits for crypto kiosks; caucus raises consumer‑fraud concerns
Summary
HB 2387, which would license cryptocurrency kiosks, was amended in the Senate to raise single‑day transaction limits and expand customer definitions; caucus members flagged fraud concerns and asked staff to confirm positions of the attorney general and AARP.
House Bill 2,387 would establish licensing and regulatory processes for cryptocurrency kiosks and operators, including consumer protections. The Senate amended the bill to clarify terms and to raise the single‑day transaction limit (Senate language described a single‑day transaction limit changed from lower previous levels to $10,500), adjust the definition of existing versus new customers, and change a prior 72‑hour cutoff to 10 days for certain customer rules.
Caucus members questioned whether increasing the daily transaction cap could expose consumers (including seniors) to more fraud. One member noted a prior attorney general concern that kiosks had been “full of fraud” in practice and asked whether raising the limit makes consumer protections worse. Staff agreed to follow up with the attorney general and AARP — both parties that had been involved in the bill’s development — to confirm their positions given the Senate changes.
No formal caucus vote was recorded; members requested staff confirmation of stakeholder support and consumer protection implications.
