A bill to amend 2006 PA 250, entitled “Money transmission services act,” by amending section 3 (MCL 487.1003), as amended by 2018 PA 573.
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
