Utah SB0173 establishes licensing requirements for virtual currency kiosk operators, sets transaction limits, and mandates fraud warnings.

Utah SB0173 amends the state's regulations on virtual currency kiosks. The bill defines key terms such as "virtual currency," "virtual currency kiosk," and "virtual currency kiosk operator." It requires operators to obtain a license, register kiosks, and pay fees. The bill limits daily transactions to $1,000 or equivalent per kiosk and $2,000 or equivalent per customer with fewer than five transactions. It caps transaction fees at 3% and mandates fraud warnings on kiosks. The attorney general can enforce the law, and violations are considered deceptive trade practices.

Utah SB0173 establishes licensing requirements for virtual currency kiosk operators, sets transaction limits, and mandates fraud warnings.

Utah SB0173 amends the state's regulations on virtual currency kiosks. The bill defines key terms such as "virtual currency," "virtual currency kiosk," and "virtual currency kiosk operator." It requires operators to obtain a license, register kiosks, and pay fees. The bill limits daily transactions to $1,000 or equivalent per kiosk and $2,000 or equivalent per customer with fewer than five transactions. It caps transaction fees at 3% and mandates fraud warnings on kiosks. The attorney general can enforce the law, and violations are considered deceptive trade practices.