Massachusetts S804 regulates virtual currency kiosk operators, requiring disclosures, compliance policies, and reporting.

Massachusetts S804 establishes regulations and reporting requirements for virtual currency kiosk operators. It mandates that operators disclose material risks and relevant terms before transactions. Operators must use blockchain analytics to prevent fraud, maintain Enhanced Due Diligence Policies, and designate compliance and consumer protection officers. They must also submit quarterly reports on kiosk locations and provide live customer service. Operators must apply for a money transmitter license within 60 days of the act's effective date.

Massachusetts S804 regulates virtual currency kiosk operators, requiring disclosures, compliance policies, and reporting.

Massachusetts S804 establishes regulations and reporting requirements for virtual currency kiosk operators. It mandates that operators disclose material risks and relevant terms before transactions. Operators must use blockchain analytics to prevent fraud, maintain Enhanced Due Diligence Policies, and designate compliance and consumer protection officers. They must also submit quarterly reports on kiosk locations and provide live customer service. Operators must apply for a money transmitter license within 60 days of the act's effective date.