House Bill 319 seeks to enhance the regulation of virtual currency kiosk businesses in Florida by amending Chapter 560 of the Florida Statutes. The bill introduces new definitions for terms such as "virtual currency kiosk," "owner-operator," and "blockchain analytics," while revising the definition of "control person." It establishes that the Office of Financial Regulation will oversee these businesses, which must register and renew their registration to operate legally. The bill outlines specific application requirements, including disclosures about the risks associated with virtual currency transactions and mandates the use of blockchain analytics to prevent illicit activities.

Additionally, the bill imposes criminal penalties for operating without proper registration or for fraudulent registration attempts, and it specifies that a virtual currency kiosk's registration is non-transferable. It sets forth requirements for maintaining and renewing registrations, stating that failure to renew within 60 days will render the registration null and void, requiring a new application. The legislation also emphasizes consumer protection by mandating detailed disclosure requirements about potential fraud and user errors, which must be acknowledged by customers before transactions. Violations can lead to severe penalties, including felony charges for significant infractions. The bill is scheduled to take effect on January 1, 2026.