Michigan HB5986 prohibits the installation and operation of cryptocurrency kiosks.
Michigan HB5986, known as the "cryptocurrency kiosk prohibition act," bans the installation and operation of cryptocurrency kiosks. Violators face a civil fine of up to $100 per day for each kiosk. If a violator holds a lottery sales agent license, their license may be suspended for 90 days. The act defines "cryptocurrency kiosk" as an electronic terminal facilitating the purchase, sale, or exchange of money for cryptocurrency. The act takes effect 90 days after being enacted into law.
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