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Representatives Kishman and Miller propose licensing, holds and disclosures for crypto kiosks to protect seniors
Summary
Sponsors of House Bill 648 told the Ohio House Financial Institutions Committee the bill would require operators of digital-asset kiosks to be licensed as money transmitters, impose holds and transaction limits, and mandate clear consumer disclosures aimed at preventing scams that target older Ohioans.
Representatives Kishman and Miller urged the Ohio House Financial Institutions Committee to advance House Bill 648, which they described as a consumer protection measure for people who use digital-asset kiosks commonly found in retail locations.
Representative Kishman said the bill would require anyone who owns, operates or facilitates a digital-asset kiosk in Ohio to be licensed as a money transmitter under Ohio Revised Code chapter 1315 and to provide plain-English disclosures before transactions take place. “Ohioans deserve to know that businesses handling their money are legitimate and properly regulated,” Kishman said.
Representative Miller,…
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