An Act relating to virtual currency kiosks; relating to transactions involving virtual currency; relating to unfair trade or deceptive acts or practices; and providing for an effective date.
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Progress
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- Introduced
- Passed Senate
- Passed House
- 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 report transaction data quarterly and annually. The bill also mandates clear disclosures to users about the risks associated with virtual currency, including potential fraud, and establishes penalties for violations, such as unfair trade practices or failing to comply with anti-money laundering regulations. Furthermore, it introduces definitions related to virtual currency and kiosks to clarify the scope of the legislation.
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