Assembly Bill 384 establishes regulations for virtual currency kiosks in Wisconsin, requiring operators to be licensed as money transmitters. The bill defines a virtual currency kiosk as an electronic terminal or retail location where users can exchange fiat currency for virtual currency or vice versa. It mandates that operators display a printed warning about potential fraud prominently on the kiosk and require customers to acknowledge this warning before proceeding with any transaction. Additionally, the bill imposes customer identification requirements, necessitating operators to collect personal information and verify identities before transactions, including taking a photograph of the customer.

The bill also sets transaction limits, capping daily exchanges at $1,000 per customer and restricting fees to the greater of $5 or 3% of the transaction amount. Furthermore, it stipulates that operators must issue refunds for transactions that were fraudulently induced, provided the customer reports the incident within 30 days. Overall, the legislation aims to enhance consumer protection and regulatory oversight in the growing field of virtual currency transactions.