The 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 must 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, while also exempting certain money transmitters from registration under specific conditions.

Furthermore, the legislation grants the Office of Financial Regulation supervisory authority over virtual currency kiosk businesses and requires the adoption of rules that adapt to technological advancements and industry practices. It imposes criminal penalties for operating without registration or for fraudulent registration attempts, aiming to mitigate unlawful activities associated with virtual currency transactions. Key provisions include the requirement for kiosks to display disclosures about potential fraud and transaction irreversibility, as well as penalties for violations, which range from felony charges for serious infractions to misdemeanors for lesser offenses. The act is scheduled to take effect on January 1, 2026.