HB5353 regulates virtual currency kiosks in West Virginia, requiring licensure and establishing disclosure and transaction limits for customers.

HB5353 brings virtual currency kiosks under the purview of money transmission licensure in West Virginia. It mandates that operators of these kiosks apply for and obtain a license through the Nationwide Multistate Licensing System and Registry. The bill sets forth specific disclosure requirements for customers, including risks associated with virtual currency transactions, transaction limits, and the right to receive a receipt. It also establishes daily transaction limits for new and existing customers, aiming to protect consumers from potential fraud and financial loss.

HB5353 regulates virtual currency kiosks in West Virginia, requiring licensure and establishing disclosure and transaction limits for customers.

HB5353 brings virtual currency kiosks under the purview of money transmission licensure in West Virginia. It mandates that operators of these kiosks apply for and obtain a license through the Nationwide Multistate Licensing System and Registry. The bill sets forth specific disclosure requirements for customers, including risks associated with virtual currency transactions, transaction limits, and the right to receive a receipt. It also establishes daily transaction limits for new and existing customers, aiming to protect consumers from potential fraud and financial loss.