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AlaskaSB 24934th Legislature - Second Session (2026)SenateWALLET

VIRTUAL CURRENCY KIOSKS

Sponsored By: Cathy Tilton (Republican)

Became Law

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 2 benefits, 1 costs, 3 mixed.

Refunds and scam warnings at kiosks

Beginning October 1, 2026, you can get a full refund in the original currency for fraud at a kiosk. You must tell the operator within 90 days of the last transaction or when you learned of the fraud, and within 120 days you must send a police report, a department report, or a sworn statement. Kiosks must show clear terms, fees, exchange rates, owner and law‑enforcement contacts, and get your acknowledgment in your chosen language. You receive both paper and electronic receipts with key details, and a visible scam warning with a toll‑free number must be posted. Live customer service is available from 8:00 a.m. to 10:00 p.m. Alaska time, and all written notices are in English and Spanish. Kiosk refund claims follow these kiosk‑specific rules, not older refund provisions.

Tougher enforcement and local kiosk rules

Beginning October 1, 2026, breaking the kiosk rules is an unfair or deceptive act under state law. The state can seize kiosks and forfeit fees collected during unlicensed or noncompliant periods. Cities and boroughs can adopt stronger kiosk protections that do not directly conflict with state law.

Stronger fraud and ID checks for kiosks

Beginning October 1, 2026, kiosk operators must keep a written anti‑fraud and anti‑money‑laundering program that follows federal law. Operators must verify each user’s identity before taking payment, including a copy of government ID, and are strictly liable for violations. Operators must use blockchain analytics to spot suspicious patterns, block known illicit wallets and wallets tied to restricted overseas exchanges, and show proof of analytics use on request. Operators must give a U.S.‑based contact line for government agencies, regularly monitor it, and share trace findings when asked. Operators must also give the department transaction details on request, including denied attempts, and provide annual, department‑approved staff training materials; staff cannot be blocked from warning users about scams.

Fee caps and purchase limits at kiosks

Beginning October 1, 2026, fees on any kiosk transaction are capped at 10% of the transaction value. You cannot transact more than $1,000 in one calendar day or more than $10,000 in any 30‑day period. Operators cannot use other products or channels to get around these limits.

New kiosk reports and data privacy rules

Beginning October 1, 2026, operators must file a report for each Alaska kiosk within 45 days after each quarter ends. An annual report is due by March 31 for the prior year and must include revenue, complaints and outcomes, transaction and refund totals, compliance contacts, locations, and suspicious activity report totals. The department keeps submitted data confidential and not a public record, but will publish a yearly summary of combined data.

Kiosks count as money transmission; new definitions

Beginning October 1, 2026, operating a virtual currency kiosk is treated as money transmission under state law. The law also updates definitions for key terms, including virtual currency, 'in this state' for in‑person transactions, and exclusions for some merchant loyalty and publisher‑only in‑game value. These changes set who is covered and how the rules apply.

Sponsors & Cosponsors

Sponsor

  • Cathy Tilton

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. (H) REFERRED TO RULES

    5/14/2026House

  2. (H) FN1: ZERO(CED)

    5/14/2026House

  3. (H) AM: SADDLER

    5/14/2026House

  4. (H) DP: FRIER, COULOMBE, CARRICK, FIELDS, HALL

    5/14/2026House

  5. (H) L&C RPT HCS(L&C) 5DP 1AM

    5/14/2026House

  6. (H) Moved HCS CSSB 249(L&C) Out of Committee -- Recessed to 08:00 am 5/14--

    5/13/2026House

  7. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

    5/13/2026House

  8. (H) L&C

    5/13/2026House

  9. (H) READ THE FIRST TIME - REFERRALS

    5/13/2026House

  10. Audio/Video

    5/13/2026House

  11. (S) VERSION: CSSB 249(JUD) AM

    5/12/2026Senate

  12. (S) TRANSMITTED TO (H)

    5/12/2026Senate

  13. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

    5/12/2026Senate

  14. (S) PASSED Y20 N-

    5/12/2026Senate

  15. (S) STEVENS

    5/12/2026Senate

  16. (S) COSPONSOR(S): KAWASAKI, GIESSEL, GRAY-JACKSON, RAUSCHER, KAUFMAN, STEDMAN,

    5/12/2026Senate

  17. (S) AUTOMATICALLY IN THIRD READING

    5/12/2026Senate

  18. (S) AM NO 1 ADOPTED UC

    5/12/2026Senate

  19. (S) RETURN TO SECOND FOR AM 1 UC

    5/12/2026Senate

  20. (S) READ THE THIRD TIME CSSB 249(JUD)

    5/12/2026Senate

  21. (H) <Bill Hearing Canceled> -- Delayed to a Call of the Chair --

    5/11/2026House

  22. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

    5/11/2026House

  23. (S) COSPONSOR(S): CLAMAN, MERRICK, BJORKMAN, TOBIN

    5/11/2026Senate

  24. (S) ADVANCED TO THIRD READING 5/12 CAL

    5/11/2026Senate

  25. (S) JUD CS ADOPTED UC

    5/11/2026Senate

Bill Text

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