Indiana HB1116 regulates virtual currency kiosks, requiring operators to be licensed and imposing specific operational and informational requirements.

Indiana HB1116 establishes regulations for virtual currency kiosks, requiring operators to be licensed as money transmitters. It mandates that operators provide users with detailed information before initiating transactions, including the operator's identity, contact details, refund policy, and fraud warning. Operators must also verify user identities and limit transaction amounts within specific timeframes. The bill outlines penalties for violations and requires operators to use blockchain analytics to prevent fraud.

Indiana HB1116 regulates virtual currency kiosks, requiring operators to be licensed and imposing specific operational and informational requirements.

Indiana HB1116 establishes regulations for virtual currency kiosks, requiring operators to be licensed as money transmitters. It mandates that operators provide users with detailed information before initiating transactions, including the operator's identity, contact details, refund policy, and fraud warning. Operators must also verify user identities and limit transaction amounts within specific timeframes. The bill outlines penalties for violations and requires operators to use blockchain analytics to prevent fraud.