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Committee moves to regulate cryptocurrency kiosks; limits, licensing and consumer warnings approved
Summary
The panel unanimously approved House Bill 1116 to license virtual-currency kiosks, require ID verification, limit daily transaction amounts, add a waiting-period/profile check and establish a $500 per-machine licensing fee for state oversight.
House Bill 1116, presented by Representative McNamara, won unanimous committee approval after members agreed to an amendment that tightens consumer protections for cryptocurrency kiosks often placed in convenience stores.
"If anybody has ever seen these, if you go into a local convenience store you'll have your regular ATM and next to it will be these cryptocurrency kiosks,"…
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