House Bill 319 seeks to establish a comprehensive regulatory framework for virtual currency kiosk businesses in Florida by amending existing laws and introducing new provisions. The bill defines essential terms such as "virtual currency kiosk," "owner-operator," and "blockchain analytics," and designates the Office of Financial Regulation as the overseeing authority. It requires virtual currency kiosk businesses to register and renew their registration annually, with specific application requirements and penalties for non-compliance. The legislation also includes exemptions for certain money transmitters and imposes criminal penalties for fraudulent registration attempts or operating without proper registration.

In addition to the registration requirements, the bill emphasizes customer protection by mandating detailed disclosures about the risks associated with virtual currency transactions. Kiosks must present warnings about potential fraud and user errors on separate screens, requiring customers to acknowledge their understanding of these risks before proceeding with transactions. The bill also stipulates that failure to renew a registration within 60 days will nullify the registration, necessitating a new application. Furthermore, if a control person of a registrant has a history of unlawful business practices, their application for registration or renewal must be denied. Violations of these provisions can lead to severe penalties, including felony charges for significant infractions. The legislation is set to take effect on January 1, 2026.