This bill establishes a regulatory framework for digital asset kiosks in Oklahoma, defining key terms related to digital assets and their transactions. It mandates that digital asset kiosk operators must be licensed as money transmitters and requires them to register their kiosks with the Banking Department before activation. Operators are also obligated to submit quarterly reports detailing the locations of their kiosks and to provide clear disclosures to customers regarding the risks associated with digital asset transactions. Additionally, the bill sets limits on daily transaction amounts, transaction fees, and mandates the provision of customer service.

To enhance consumer protection, the bill includes provisions for anti-fraud measures, requiring operators to employ a compliance officer and maintain an anti-fraud policy. It also stipulates that refunds must be issued to customers who have been fraudulently induced into transactions, with specific conditions outlined for both new and existing customers. The Banking Department is tasked with revoking licenses for operators with multiple consumer complaints related to fraud. The act is set to take effect on November 1, 2025.