The bill amends Section 19-14.3-1.1 of the General Laws regarding "Currency Transmissions" to include new definitions relevant to virtual currency transactions. Key insertions include definitions for terms such as "Control," "Exchange," "Legal tender," "Resident," and "Virtual currency kiosk," which is defined as an electronic terminal that facilitates the exchange of virtual currency for fiat currency or other virtual currencies. Additionally, the bill introduces a new section, 19-14.3-3.9, which mandates that operators of virtual currency kiosks provide customers with the option to receive a paper or electronic receipt detailing the transaction, including specific information such as public wallet addresses and unique transaction identifiers.

Furthermore, the bill stipulates that virtual currency kiosks must be disabled from processing transactions if they cannot provide a paper receipt at the time of the transaction. This legislation aims to enhance transparency and consumer protection in virtual currency transactions by ensuring that customers receive proper documentation of their transactions. The provisions of this act will take effect upon passage.