South Dakota SB98 aims to prevent fraud at virtual currency kiosks by establishing licensing requirements and operational standards for licensees.

South Dakota SB98 introduces licensing requirements for operators of virtual currency kiosks and sets operational standards to prevent fraud. Licensees must provide clear disclosures to users, verify user identities, and establish transaction limits. They must also report suspicious activities and offer full refunds to victims of fraud. The bill mandates annual training for staff on fraud indicators and requires the display of contact information for law enforcement agencies.

South Dakota SB98 aims to prevent fraud at virtual currency kiosks by establishing licensing requirements and operational standards for licensees.

South Dakota SB98 introduces licensing requirements for operators of virtual currency kiosks and sets operational standards to prevent fraud. Licensees must provide clear disclosures to users, verify user identities, and establish transaction limits. They must also report suspicious activities and offer full refunds to victims of fraud. The bill mandates annual training for staff on fraud indicators and requires the display of contact information for law enforcement agencies.