The proposed bill establishes a regulatory framework for virtual currency kiosks in Alaska, requiring operators to obtain a money transmission license and register with the state before conducting transactions. It mandates that operators submit quarterly and annual reports detailing their operations, including transaction data, complaints, and suspicious activity. The bill also outlines specific disclosure requirements for operators, including warnings about potential fraud and the risks associated with virtual currency. Additionally, it sets forth guidelines for user identification, transaction limits, and customer service provisions, ensuring that users are informed and protected during their interactions with virtual currency kiosks.

Furthermore, the bill introduces penalties for non-compliance, categorizing violations as unfair trade or deceptive practices. It emphasizes the importance of anti-fraud measures, requiring operators to implement written policies and utilize blockchain analytics to prevent illicit activities. The legislation also clarifies that municipal regulations providing greater protections are not preempted by state law. Overall, the bill aims to enhance consumer protection and regulatory oversight in the rapidly evolving landscape of virtual currency transactions.

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