House committee holds cryptocurrency kiosk bill after committee adopts sub A amendments

The House Committee on Innovation and Technology voted to hold House Bill 5121, a bill relating to cryptocurrency kiosks, for further study and recorded approval of a sub A that changes several provisions of the measure.

The committee’s action noted three material changes in the sub A: the daily transaction limit for kiosks was raised from $1,000 to $2,000; each kiosk must provide customers a receipt for transactions; and customers must be permitted to cancel a transaction within 30 days if they believe it to be fraudulent. The sponsor of the bill was recorded as Representative Casimir.

The vote was taken by roll call during the committee meeting. Members recorded as voting yes included Chair Wanda Muginski; First Vice Chair Handy; Representative Asinaro; Representative Kennedy; Representative Messier; Representative Papalakis; Representative Santucci; Representative Spears; and Representative Stewart. The committee chair announced that the motion carried.

Neither the motion’s mover nor seconder were specified in the transcript beyond committee members indicating support during the roll call. The committee did not take final action to enact the bill into law; the committee’s recorded action was to hold the bill for further study while adopting the sub A amendments described above.

The committee did not provide additional details in the hearing about implementation timelines, enforcement responsibilities beyond the sub A language, or whether further amendments would be considered before the bill’s next committee action.