The bill H. 4592 aims to amend the South Carolina Code of Laws by adding Article 13 to Chapter 3, Title 34, which establishes regulations for the vending of digital assets, specifically focusing on virtual currency kiosks. It defines key terms such as "blockchain technology," "virtual currency," and "virtual currency kiosk," and mandates that owners and operators of these kiosks must obtain a money transmitter license. The bill also requires these operators to provide clear and conspicuous disclosures regarding the risks associated with virtual currency transactions, including a warning about potential fraud, which must be displayed on the kiosk screens.

Additionally, the bill sets transaction limits based on customer status, allowing new customers to transact up to $2,000 daily and existing customers up to $10,500. It outlines the necessary disclosures that must be provided to customers before and after transactions, including details about fees, transaction amounts, and the operator's liability. Furthermore, it stipulates conditions under which customers can cancel transactions and receive refunds, particularly in cases of fraud. The act will take effect upon approval by the Governor.