Florida Senate approves rules for virtual-currency kiosks, citing senior-targeted fraud

Tallahassee — The Florida Senate on third reading approved a bill to regulate virtual‑currency kiosks, which supporters said have become major conduits for fraud, particularly targeting seniors. Senator Roussan explained the substitute bill and urged colleagues to support consumer protections.

Supporters say the measure will require kiosk businesses to register with the state, disclose the physical locations of machines, display clear on‑screen fraud warnings and provide detailed transaction receipts. It also sets daily transaction limits for customers — $2,000 for new customers within seven days and $10,000 for existing customers — and establishes refund procedures in documented cases of fraud.

"Cryptocurrency kiosks have become major conduits for fraud and scams, particularly targeting seniors who are coerced into depositing cash under false pretenses," Senator Roussan said in explaining the bill. He also said the Senate would substitute House Bill 505 for Senate Bill 198 to harmonize differences in transaction limits, regulatory structure and the use of blockchain analytics to detect fraud.

Senators adopted a Senate amendment that replaced the House language with the Senate text. After closing remarks, the secretary recorded the vote: 37 yays, 0 nays. The Senate then ordered the bill forwarded for enrollment and transmission consistent with chamber rules.

The bill’s passage follows concerns raised by senators about increasing scams at in‑person kiosks. The sponsor said the measure balances consumer protections with business compliance obligations.

The next procedural step is enrollment and certification; the Senate also moved to certify the day's passed bills to the House by unanimous consent before adjourning.