S 2957
Establishes "Virtual Currency Kiosk Consumer Protection Act."
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill, the "Virtual Currency Kiosk Consumer Protection Act," aims to regulate virtual currency kiosks in New Jersey. It requires kiosks to provide clear disclosures to consumers about the risks associated with using these kiosks, including the fact that virtual currency is not legal tender and that transactions may be irreversible. The bill also mandates that kiosk operators obtain a money transmitter license and maintain compliance policies, and requires them to use blockchain analytics to prevent fraudulent transactions. Finally, it establishes requirements for customer service and reporting kiosk locations.
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