Florida Senate - 2026                                     SB 198
       
       
        
       By Senator Rouson
       
       
       
       
       
       16-00044-26                                            2026198__
    1                        A bill to be entitled                      
    2         An act relating to virtual currency kiosks; creating
    3         s. 560.215, F.S.; defining terms; requiring an owner
    4         or operator of a virtual currency kiosk to ensure that
    5         a specified disclosure is displayed before a customer
    6         initiates a virtual currency kiosk transaction;
    7         prohibiting an owner or operator of a virtual currency
    8         kiosk from permitting new and existing customers from
    9         transacting more than a specified amount per calendar
   10         day; requiring an owner or operator of a virtual
   11         currency kiosk to provide a customer with a specified
   12         electronic receipt upon completion of a virtual
   13         currency transaction; requiring an owner or operator
   14         of a virtual currency kiosk to issue a full refund
   15         under certain circumstances; authorizing the Financial
   16         Services Commission to adopt rules; providing an
   17         effective date.
   18          
   19  Be It Enacted by the Legislature of the State of Florida:
   20  
   21         Section 1. Section 560.215, Florida Statutes, is created to
   22  read:
   23         560.215Requirements for virtual currency kiosks.—
   24         (1)For the purpose of this section, the term:
   25         (a)“Blockchain” means a mathematically secured,
   26  chronological, decentralized, distributed, and digital ledger or
   27  database that consists of records of transactions that cannot be
   28  altered retroactively.
   29         (b)“Existing customer” means a customer who has transacted
   30  with the owner or operator of a virtual currency kiosk for 7 or
   31  more days.
   32         (c)“New customer” means a customer who has transacted with
   33  the owner or operator of a virtual currency kiosk for fewer than
   34  7 days.
   35         (d)“Transaction hash” means a unique identifier consisting
   36  of a string of characters which provides a verifiable record
   37  that a transaction has been confirmed and added to the
   38  blockchain.
   39         (e)“Virtual currency kiosk” means an electronic terminal
   40  that acts as a mechanical agent of the owner or operator,
   41  enabling the owner or operator to facilitate the exchange of
   42  virtual currency for fiat currency or other virtual currency on
   43  behalf of a customer.
   44         (f)“Virtual currency kiosk transaction” means the process
   45  in which a customer uses a virtual currency kiosk to exchange
   46  virtual currency for fiat currency or other virtual currency. A
   47  transaction begins at the point at which the customer is able to
   48  initiate a transaction after the customer is given the option to
   49  select the type of transaction or account and does not include
   50  any of the screens that display the required terms and
   51  conditions, disclaimers, or attestations.
   52         (g)“Wallet” means hardware or software that enables
   53  customers to store and use virtual currency.
   54         (2)Before a customer may initiate a virtual currency kiosk
   55  transaction, the owner or operator of the virtual currency kiosk
   56  must ensure that the virtual currency kiosk clearly and
   57  conspicuously displays the following disclosure on the screen:
   58  
   59         WARNING: CONSUMER FRAUD OFTEN STARTS WITH CONTACT FROM
   60         A STRANGER. IF YOU HAVE BEEN DIRECTED TO THIS MACHINE
   61         BY SOMEONE CLAIMING TO BE A GOVERNMENT AGENT, BILL
   62         COLLECTOR, LAW ENFORCEMENT OFFICER, OR ANYONE YOU DO
   63         NOT KNOW PERSONALLY, STOP THIS TRANSACTION IMMEDIATELY
   64         AND CONTACT YOUR FINANCIAL ADVISOR OR LOCAL LAW
   65         ENFORCEMENT.
   66  
   67         (3)The owner or operator of a virtual currency kiosk may
   68  not permit a new customer to transact more than $2,000 per
   69  calendar day, whether through a single transaction or multiple
   70  transactions. The owner or operator of a virtual currency kiosk
   71  may not permit an existing customer to transact more than
   72  $10,500 per calendar day, whether through a single transaction
   73  or multiple transactions.
   74         (4)Upon completion of a virtual currency transaction, the
   75  owner or operator of a virtual currency kiosk must provide the
   76  customer with an electronic receipt that includes all of the
   77  following:
   78         (a)The name and contact information of the owner or
   79  operator, including a toll-free telephone number.
   80         (b)The date, time, value, and type of the transaction.
   81         (c)The transaction hash and each wallet used.
   82         (d)The total fee charged.
   83         (e)The exchange rate, if applicable.
   84         (f)A statement of the owner’s or operator’s liability, if
   85  any, for nondelivery or delayed delivery of the currency.
   86         (g)The refund policy of the owner or operator.
   87         (5)The owner or operator of a virtual currency kiosk must
   88  issue a full refund within 72 hours to a customer for the
   89  customer’s first virtual currency transaction if all of the
   90  following conditions are met:
   91         (a)The customer transferred virtual currency to a wallet
   92  or exchange located outside the United States.
   93         (b)Within 60 days, the customer contacts both the owner or
   94  operator of the virtual currency kiosk and a law enforcement or
   95  governmental agency regarding the fraudulent nature of the
   96  transaction.
   97         (c)The customer provides proof of fraud, such as a police
   98  report or a notarized affidavit.
   99         (6)The commission may adopt rules to administer this
  100  section.
  101         Section 2. This act shall take effect January 1, 2027.