S804
An Act providing for regulation and reporting requirements for qualifying virtual currency kiosk operators
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- Passed Senate
- Passed House
- To Governor
- Became Law
Bill overview
This bill aims to regulate and require reporting from businesses that operate virtual currency kiosks in Massachusetts. It seeks to establish a framework for these kiosks, ensuring transparency and potentially addressing concerns related to their operation. The legislation focuses on creating rules and reporting obligations for qualifying kiosk operators. This will help Massachusetts oversee and manage the use of these kiosks within the state.
Key provisions
- Requires qualifying virtual currency kiosk operators to register with the state.
- Mandates reporting of transactions conducted through the kiosks.
- Establishes requirements for the security and operation of the kiosks.
- Defines what constitutes a ‘qualifying virtual currency kiosk operator’.
- Creates a process for the state to investigate potential violations of the regulations.
- Specifies penalties for non-compliance.
Who is affected
- Virtual currency kiosk operators
- Individuals using virtual currency kiosks
- Financial Services industry in Massachusetts
Notable changes
- This bill introduces specific regulations for virtual currency kiosks, which were previously largely unregulated in Massachusetts.
- It establishes a reporting mechanism to track transactions through these kiosks.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Patrick M. O'Connor
Cosponsors
Joanne M. Comerford
Patrick M. O'Connor
Arguments in favor
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Bill S.804 194th (Current)
An Act providing for regulation and reporting requirements for qualifying virtual currency kiosk operators
By Mr. O'Connor, a petition (accompanied by bill, Senate, No. 804) of Patrick M. O'Connor and Joanne M. Comerford for legislation to provide regulation and reporting requirements for qualifying virtual currency kiosk operators. Financial Services.
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Bill Information
Bill Information
Presenter: Patrick M. O'Connor
Tabs
Bill History Petitioners Committee Summary Primary Sponsor Summary
Bill History
Displaying 6 actions for Bill S.804
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Financial Services |
| 2/27/2025 | House | House concurred |
| 9/25/2025 | Joint | Hearing scheduled for 10/07/2025 from 10:30 AM-01:00 PM in A-2 |
| 10/7/2025 | Joint | Hearing rescheduled to 10/07/2025 from 10:30 AM-01:10 PM in A-2 and Virtual Hearing updated to New End Time |
| 4/1/2026 | Senate | Reporting date extended to Monday April 6, 2026 |
| 4/8/2026 | Senate | Accompanied a study order, see S3049 |
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