This bill enacts several new provisions related to virtual currency kiosks in Louisiana, including definitions, transaction limits, and operational requirements. It introduces definitions for terms such as "fiat currency," "virtual currency kiosk," "virtual currency kiosk operator," and "virtual currency kiosk transaction." The bill establishes that any person involved in the operation or facilitation of a virtual currency kiosk is engaged in virtual currency business activity and must comply with relevant licensing requirements. Additionally, it sets a maximum daily transaction limit of $3,000 per user and mandates a 72-hour waiting period for processing transactions, during which users can cancel and receive a full refund.

Furthermore, the bill requires virtual currency kiosk operators to implement specific policies aimed at preventing fraud and ensuring due diligence. Operators must use blockchain analytics software to prevent transactions to fraudulent digital wallets and establish a written anti-fraud policy that includes risk assessment and monitoring procedures. They are also required to post a warning notice on each kiosk regarding potential scams. An Enhanced Due Diligence Policy must be maintained, identifying individuals at risk of fraud based on age or mental capacity. The Louisiana State Law Institute is tasked with renumbering and alphabetizing the definitions in the relevant statutes as necessary.