The proposed bill establishes new regulations for virtual currency kiosks in Florida by creating Section 560.215 of the Florida Statutes. It defines key terms related to virtual currency transactions, including "blockchain," "new customer," and "virtual currency kiosk." The bill mandates that kiosk operators display a consumer warning before transactions, limits the amount new customers can transact to $2,000 per day and existing customers to $10,500 per day, and requires the issuance of an electronic receipt detailing transaction specifics. Additionally, it stipulates that full refunds must be provided under certain conditions related to fraudulent transactions.

The bill also empowers the Financial Services Commission to adopt rules for the administration of these regulations. The effective date for the implementation of this act is set for January 1, 2027. Overall, the legislation aims to enhance consumer protection and transparency in virtual currency transactions conducted through kiosks.