SPONSOR: Hausman
This bill defines the terms "existing customer" and "new customer" in relation to the Virtual Currency Kiosk Consumer Protection Act.
The bill gives the Attorney General (AG) enforcement authority with respect to violations of the Act. Specifically, if the AG has reasonable belief that a virtual currency kiosk operator is in violation of the Act, the AG has the sole authority to bring civil action to provide for any or all of the following:
1) Enjoin further violations by the operator;
2) Enforce compliance;
3) Seek civil penalties in an amount not more than $10,000 for each violation; or
4) Other remedies permitted under law.
Further, if the AG has reasonable belief that a person is in violation of an injunction issued under this Act, the AG has the sole authority to bring civil action to provide for civil penalties in an amount no more than $100,000. An individual who has knowledge of a violation of the Act can report the violation to the AG. The AG will establish an electronic reporting system for the submission of reports pursuant to this Act.
This bill is similar to SB 1510 (2026).
Statutes affected: