Senate File 449 introduces regulations for digital financial asset transaction kiosks in Iowa, establishing definitions, operational limits, and consumer protections. The bill defines key terms such as "digital financial asset," "operator," and "consumer," and sets transaction limits, allowing operators to accept or dispense no more than $1,000 per calendar day and $10,000 within the first thirty days for new consumers. It also imposes a maximum charge of either $5 or 15% of the transaction value, whichever is greater. Operators are required to provide clear disclosures to consumers before transactions, including potential charges and warnings against fraud, and must issue receipts detailing transaction specifics.

Additionally, the bill mandates operators to implement compliance and fraud prevention policies, designate a compliance officer, and maintain customer service availability. It outlines the process for refunds in cases of fraud for both new and existing consumers, and grants the attorney general authority to enforce compliance, including civil penalties for violations. The act is effective immediately upon enactment but will apply to operators starting July 1, 2025.