This bill establishes a regulatory framework for virtual currency kiosk businesses in Florida by amending existing statutes and creating new sections under Chapter 560 of the Florida Statutes. It defines key terms such as "virtual currency kiosk," "owner-operator," and "blockchain analytics," and mandates that these businesses must register with the Office of Financial Regulation before operating. The bill outlines the registration process, including application requirements, renewal procedures, and penalties for non-compliance. It also specifies that certain money transmitters are exempt from registration but must adhere to specific provisions. Additionally, the bill imposes criminal penalties for operating without proper registration or for fraudulent registration attempts, aiming to enhance consumer protection and reduce unlawful activities associated with virtual currency transactions.

Key provisions of the bill 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 mandates that virtual currency kiosks display specific disclosures to customers regarding potential fraud and the irreversibility of transactions. It categorizes serious offenses as felonies and lesser infractions as misdemeanors, with violations including operating under an unregistered name and failing to use blockchain analytics. The legislation is designed to ensure that virtual currency transactions are conducted lawfully and transparently, with an effective date set for January 1, 2026.