An Act relating to virtual currency kiosks; relating to transactions involving virtual currency; and relating to unfair trade or deceptive acts or practices.
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Progress
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- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill establishes regulations for virtual currency kiosks operating in Alaska. It requires operators to obtain a money transmission license, register with the state, and implement a 48-hour hold on first transactions. The bill also mandates reporting requirements, including details on transactions, user complaints, and suspicious activity, and includes disclosures to users about the risks associated with virtual currency and potential fraud. Furthermore, it outlines requirements for fraud prevention, customer service, and transaction limits.
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