Establishes the "Virtual Currency Kiosk Consumer Protection Act" to regulate virtual currency kiosks in New Jersey.
The "Virtual Currency Kiosk Consumer Protection Act" establishes regulations for virtual currency kiosks in New Jersey. It defines a virtual currency kiosk as an electronic terminal facilitating the exchange of fiat currency for virtual currency or vice versa. Operators must display notices stating the kiosk is not an automated teller machine. The act requires operators to maintain an Enhanced Due Diligence policy, reviewed by the board of directors, and to employ a compliance officer and a consumer protection officer.
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