The bill establishes comprehensive regulations for virtual currency kiosks in Alaska, requiring operators to obtain a money transmission license and register with the state prior to conducting any transactions. It mandates the submission of quarterly and annual reports that detail operational data, including transaction statistics, complaints, and any suspicious activities. Operators are also required to provide necessary disclosures to users, including warnings about potential fraud and the inherent risks of virtual currency. To enhance consumer protection, the bill stipulates that operators must implement anti-fraud measures, verify user identities, and maintain customer service during designated hours. Additionally, it sets transaction limits, prohibits excessive fees, and mandates refunds in cases of fraud.

The legislation introduces specific definitions related to virtual currency, clarifying that it is a digital representation of value not classified as money. It outlines various activities associated with virtual currency, such as "virtual currency business activity," which includes exchanging, transferring, or storing virtual currency. The bill also establishes roles for "virtual currency control services vendor" and "virtual currency exchange," detailing their responsibilities. Furthermore, it amends existing law by adding a new violation related to virtual currency kiosks, enhancing regulatory oversight of these transactions. The provisions of the bill are set to take effect on October 1, 2026.

Statutes affected:
SB0249A, AM SB 249, introduced 02/18/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990
SB0249B, AM CSSB 249(L&C), introduced 03/18/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990
SB0249C, AM CSSB 249(JUD), introduced 04/27/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990, 11.41.500, 11.41.530, 11.46.100, 11.46.740
SB0249D, AM CSSB 249(JUD) am, introduced 05/12/2026, passed Senate 05/12/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990
SB0249E, AM HCS CSSB 249(L&C), introduced 05/14/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990
SB0249Z, AM Enrolled SB 249, introduced 05/20/2026: 40.25.110, 40.25.140, 06.55.130, 06.55.160, 06.55.830, 06.55.135, U.S.C, 06.55.140, 06.55.145, 06.55.150, 06.55.155, 06.55.165, 06.55.170, 06.55.172, 06.55.175, 06.55.180, 06.55.185, 06.55.120, 06.55.195, 45.50.471, 06.55.605, 06.55.190, 06.55.840, 06.55.990