Establishes regulations for cryptocurrency exchange kiosks in Michigan to protect consumers.

The bill creates the "cryptocurrency exchange kiosk regulation act" to safeguard consumers. It mandates that operators of cryptocurrency exchange kiosks limit daily transactions to $500, implement measures to prevent fraud, and display clear warnings. Operators must also provide receipts, maintain transaction records, and ensure kiosks are secure and staffed during business hours. Violations result in civil fines, with higher penalties for repeated offenses. The attorney general can investigate violations, coordinate with law enforcement, and bring legal actions to enforce the act.

Establishes regulations for cryptocurrency exchange kiosks in Michigan to protect consumers.

The bill creates the "cryptocurrency exchange kiosk regulation act" to safeguard consumers. It mandates that operators of cryptocurrency exchange kiosks limit daily transactions to $500, implement measures to prevent fraud, and display clear warnings. Operators must also provide receipts, maintain transaction records, and ensure kiosks are secure and staffed during business hours. Violations result in civil fines, with higher penalties for repeated offenses. The attorney general can investigate violations, coordinate with law enforcement, and bring legal actions to enforce the act.