The Controllable Electronic Record Fraud Prevention Act aims to regulate financial transactions involving controllable electronic records, such as cryptocurrencies, by establishing guidelines for kiosk operators. Key provisions require these operators to obtain a license under the Nebraska Money Transmitters Act, disclose potential fraud risks to customers, and implement an antifraud policy. Operators must also use blockchain analytics software to prevent fraudulent transactions and appoint a compliance officer to ensure adherence to the new regulations. The bill sets transaction limits of $2,000 for new customers and $10,500 for existing customers, while mandating necessary disclosures regarding transaction details, fees, and associated risks. Refunds are permitted under certain conditions if a customer is fraudulently induced into a transaction.

Additionally, the bill introduces requirements for live customer service availability and communication methods for law enforcement. Operators must provide customer service from Monday to Friday, 7:00 a.m. to 9:00 p.m., via a toll-free number displayed on the kiosk, and establish a dedicated communication method for law enforcement that is monitored daily. The legislation also defines "gift certificates or gift cards," outlining seller obligations for fraud notifications and allowing the Attorney General to issue citations for violations. Furthermore, it amends existing statutes to include "controllable electronic records" in the definition of property related to search warrants, ensuring these records are treated similarly to other tangible objects in legal contexts.

Statutes affected:
Introduced: 28-416, 28-512, 28-602, 28-603, 28-639, 28-813.01, 28-1111, 28-1463.06, 28-1601, 28-1602
Final Reading: 29-817
Slip Law: 29-817