FloridaHB 5052026HouseWALLET

Virtual Currency Kiosks

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Bill Overview

Analyzed Economic Effects

6 provisions identified: 2 benefits, 4 costs, 0 mixed.

Refunds for first kiosk fraud losses

Beginning January 1, 2027, customers get a full refund for their first kiosk virtual currency transaction when they report alleged fraud. Within 60 days of the transaction, they must notify both the business and a law enforcement or government agency. They must also give the business proof, such as a police report or notarized statement. The business must issue the full refund within 72 hours once these requirements are met.

Fraud warnings and receipts for customers

Beginning January 1, 2027, Florida kiosks must clearly display a fraud warning before customers begin a transaction. It tells customers directed there by strangers or supposed officials to stop and contact a financial advisor or local police. Customers choose paper or electronic receipts showing the business name, email, toll-free number, transaction date, time, dollar amount, and type. Receipts must also show the transaction hash, each wallet address, total fee, and exchange rate when applicable. They must explain the business's liability for missing or delayed delivery and its refund policy.

Daily limits for virtual currency customers

Beginning January 1, 2027, new kiosk customers can transact no more than $2,000 per calendar day. Existing customers have a $10,000 daily limit. New customers have used kiosks for fewer than 7 days; existing customers have used them for 7 days or more. All transactions across all kiosks count toward the daily limit. Before a transaction, customers must confirm whether they used another kiosk that day and how much they transacted.

Kiosk operators face ongoing compliance checks

Beginning January 1, 2027, applicants must disclose business, organization, agent, kiosk-location, and control-person details, including identification numbers and employment history. They must attest to maintained blockchain-analysis policies that prevent transfers to wallets linked to known criminal activity. Florida can request proof of these controls, and operators must report application-information changes within 30 days. Businesses operating on or before January 1, 2027, must apply by January 31, 2027. Annual renewals are due by December 31 of the year before expiration, with updated information or a statement that nothing changed. A missed renewal makes registration inactive for a 60-day renewal window; operators cannot do business while inactive. Renewal during that window requires compliance evidence; afterward, a new application and certification are required before business resumes. False application statements void registration, and Florida may deny applications for specified unlawful, dishonest, or fraudulent conduct by control persons. Florida must deny renewal when an operator fails to provide requested compliance evidence.

Penalties for unregistered money services operators

Beginning January 1, 2027, enforcement rules expressly cover providing or advertising money services without required registration, including kiosk activity. Operators without a required license or registration, and without an exemption, face enforcement; their transactions are void. Unlicensed agents acting as vendors are treated as principals. Over 12 months, values above $300 but below $20,000 trigger third-degree felony charges; $20,000 to below $100,000 trigger second-degree charges. Values of $100,000 or more trigger first-degree charges. Administrative fines can reach the greater of $250,000 or twice the transaction value for first or second violations. Later violations can bring the greater of $500,000 or five times the value; civil penalties can reach the greater of $25,000 or the currency's value. The law also allows prosecutions using corroborated confessions or admissions without the usual independent-proof rule blocking them.

Registration rules for virtual currency businesses

Beginning January 1, 2027, Florida's money-services rules cover businesses offering terminals that exchange virtual currency for dollars or other virtual currency. Beginning March 1, 2027, kiosk businesses generally must register with Florida's Office of Financial Regulation before operating. Registrations cannot be transferred or assigned, and the office must give applicants written approval or denial. Already-licensed money transmitters are exempt from kiosk registration, but must follow customer protections, including limits, disclosures, receipts, and refunds. Also beginning March 1, businesses that can independently execute or indefinitely block kiosk transactions need a money-services license. The Financial Services Commission's rules must respond to changes in economic conditions, technology, and industry practices.

Sponsors & Cosponsors

Sponsor

Michael Owen
Republican • House

Cosponsors

Commerce Committee
Affiliation unavailable
Dan Daley
Democratic • House

Roll Call Votes

All Roll Calls

Yes: 252 • No: 0

House vote • 3/12/2026

House Floor Vote

Yes: 107 • No: 0

Senate vote • 2/25/2026

Senate Floor Vote

Yes: 37 • No: 0

House vote • 2/17/2026