This bill establishes a comprehensive regulatory framework for virtual currency kiosk businesses in Florida by amending existing statutes and creating new sections within Chapter 560 of the Florida Statutes. It defines essential terms such as "virtual currency kiosk," "owner-operator," and "blockchain analytics," and mandates that these businesses register with the Office of Financial Regulation prior to operation. The bill outlines the registration process, including application requirements, renewal procedures, and penalties for non-compliance. It also specifies exemptions for certain money transmitters while requiring adherence to specific provisions.

Furthermore, the legislation imposes criminal penalties for operating without proper registration or for fraudulent registration attempts, and mandates compliance with regulations, including the use of blockchain analytics to mitigate illicit activities. Key provisions include the requirement for a new application for registration if a previous registration becomes null and void, and the denial of applications for individuals with a history of unlawful business practices or fraud-related crimes. The bill also requires virtual currency kiosks to display disclosures regarding potential fraud and transaction irreversibility, ensuring customer awareness. Penalties for violations range from felony charges for serious infractions to misdemeanors for lesser offenses, with the act set to take effect on January 1, 2026.