A bill to regulate virtual currency kiosk operators; to require certain disclosures by virtual currency kiosk operators; to provide for the powers and duties of certain state and local governmental officers and entities; and to prescribe civil sanctions.
House Bills 5469 and 5470 expand Michigan’s financial regulatory framework by imposing consumer protection, anti-fraud, disclosure, and reporting requirements on virtual currency kiosks and formally bringing them under the state’s Money Transmission Services Act to strengthen oversight of digital currency transactions.
Introduced
by
Referred to the Committee on Regulatory Reform
