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Glossary of Legislative Terms

HB 977: Virtual Currency Kiosk Businesses

GENERAL BILL by Steele ; Daley

Virtual Currency Kiosk Businesses; Requires OFR to supervise virtual currency kiosk businesses; provides legislative intent; prohibits virtual currency kiosk business from operating without registering; requires certain entities to be licensed as money services businesses; provides that registration is not transferable or assignable; specifies requirements for certain disclosures & attestations; requires registrant to transact business under its legal name; requires registrant to hold new customers' assets in initial transactions in segregated wallets for specified period before initiating transactions; authorizes customers to request refunds during such holding periods; authorizes such customers' assets to be sold at market value & returned to customers; requires certain customers to be queried for specified information; provides criminal penalties.

Effective Date: 1/1/2025
 Last Action: 3/8/2024 House - Died in Insurance & Banking Subcommittee
Bill Text: PDF

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  • Bill History

  • HB 977, Original Filed Version (Current Bill Version) Posted 12/20/2023 at 4:20 PM