Subcommittee approves amendment tightening crypto‑kiosk consumer protections while shelving licensure for now
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Summary
Lawmakers approved an amendment that creates a 72‑hour 'new customer' refund window, caps new‑customer withdrawals at $3,000 during that window, and requires operators to notify the attorney general and manage biometric data retention; members debated a licensing requirement and premium/market effects.
The subcommittee considered a replace‑all amendment (1464h) aimed at regulating on‑site cryptocurrency kiosks and similar point‑of‑sale devices. Sponsor Keith (speaker 11) said the amendment sets a "new customer" period that begins when an ID is verified and runs for 72 hours, during which the customer may request a full refund; withdrawals in that period are capped at $3,000 total. The draft also includes a requirement to securely destroy or delete biometric data within 30 days unless applicable federal law requires longer retention, and it requires kiosks operating in the state to notify the attorney general’s office.
Debate focused on whether a $3,000 cap is adequate to protect vulnerable consumers, especially older adults; Representative Spear (speaker 5) urged licensure and a daily cap, arguing a license would provide enforcement leverage. Sponsor Keith and others said the amendment is intended as a 'minimum standard' and that reporting and a new‑customer window provide a compromise; they removed an proposed inflation adjustment to the dollar cap and agreed to delete explicit prohibition on licensure from the current text to preserve future options.
Industry and consumer witnesses raised implementation questions: some committee members asked whether the AG or the secretary of state would enforce compliance and whether penalties should be included; the committee noted existing RSA provisions could be lifted into the bill for enforcement. After discussion, the subcommittee voted 6–2 to advance the amendment with the agreed changes and to circulate a final text.
