The bill amends Section 19-14.3-1.1 of the General Laws in Chapter 19-14.3, titled "Currency Transmissions," by introducing new definitions relevant to virtual currency transactions. The definition of a "virtual currency kiosk operator" is expanded to include not only those who own the kiosks but also any person or business entity that facilitates or enables the purchase of virtual currency, including through custodial or non-custodial services. Additionally, the definition of a "virtual currency kiosk transaction" is broadened to encompass transactions conducted via digital products or applications that direct customers to remit payment in person, including through a clerk or other intermediary, for the purpose of completing the transaction. The act aims to clarify and broaden the regulatory framework surrounding virtual currency transactions, ensuring that various stakeholders involved in these transactions are adequately defined and regulated. The act will take effect upon passage.

Statutes affected:
2648: 19-14.3-1.1