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MississippiHB 16252026 Regular SessionHouseWALLET

Virtual currency kiosks; require licensure in accordance with Money Transmission Modernization Act.

Sponsored By: Shane Aguirre (Republican)

Signed by Governor

Banking and Financial ServicesBusiness and Financial Institutions

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Bill Overview

Analyzed Economic Effects

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

Clear price and risk disclosures at kiosks

Beginning July 1, 2026, operators must give clear risk warnings before your first use, in English and their main ad language. When you open an account, they must show key terms in at least 24‑point sans‑serif font, including liability, stop‑payment rights, and receipt rights. Before each transaction, the kiosk must show the dollar amount, total fees as a dollar and percent, transaction type, daily limits, any price difference from market, and an irreversibility warning. After each transaction, you get both a paper and an electronic receipt with fees, exchange rate, any tax collected, the transaction hash, exact time, refund info, and contacts. You must acknowledge these disclosures before moving forward.

Licenses and enforcement for crypto kiosks

Beginning July 1, 2026, you must hold a Mississippi money‑transmission license to run or advertise a virtual currency kiosk. Kiosk operators fall under the Money Transmission Modernization Act, and this act governs if there is a conflict. Operators may not label kiosks as an “ATM” or as a bank unless they are a bank under Title 81. Each operator must employ a qualified chief compliance officer, who owns no more than 20% of the business, and use full‑time staff for compliance. The state commissioner can make rules, suspend or revoke licenses for violations of Sections 1–11, and order noncompliant kiosks disabled or removed at the operator’s expense.

First-time holds, limits, and refunds

Beginning July 1, 2026, your first transaction with an operator is held for 96 hours in a non‑interest account, and you cannot make another with that operator during the hold. Daily limits apply: $1,000 per day for new customers and $7,500 per day for existing customers. In your first 14 days with an operator, your total across all transactions cannot exceed $5,000. You can get a full refund if you ask during the 96‑hour hold. If you were tricked into transactions in that first 14‑day window, you can get a full refund of those amounts if you contact the operator and a government or law‑enforcement agency within 90 days of your last transaction and provide proof like a police report or sworn statement.

Stronger fraud checks at crypto kiosks

Beginning July 1, 2026, before taking cash, every customer must answer identity prompts and at least five random security questions. If you name an instructing person or answer “yes” to any question, the sale is declined and voided, and no fees are charged. The security‑question system must be in place by January 1, 2027. Operators must collect a copy of your government ID, stop more than one customer from using the same wallet, and block wallets flagged for fraud or crime. They must use blockchain analytics to help prevent transfers to fraudulent or sanctioned wallets and keep a written anti‑fraud policy with controls and regular reviews.

Extra scam checks for older adults

Beginning July 1, 2026, a customer‑service rep must call and speak with a new elder customer (age 60+) before their first transaction. The call is recorded and checks for coaching and confirms warnings. If an elder is on a phone or wearing a headset during a transaction, the operator must stop and void it, then block new transactions for at least 24 hours and keep a record.

Live support and fast problem reporting

Beginning July 1, 2026, operators must offer live toll‑free phone support during kiosk hours and post the number on the kiosk. They must keep kiosks in good working order to meet all safety rules. Operators must tell the Mississippi Department of Banking and Consumer Finance about any customer complaint or refund request within 72 hours.

Sponsors & Cosponsors

Sponsor

  • Shane Aguirre

    Republican • House

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 335 • No: 1

House vote • 3/30/2026

Conference Report Adopted

Yes: 114 • No: 1

Senate vote • 3/30/2026

Conference Report Adopted

Yes: 52 • No: 0

Senate vote • 3/10/2026

Passed As Amended

Yes: 52 • No: 0

House vote • 2/12/2026

Passed

Yes: 117 • No: 0

Actions Timeline

  1. Approved by Governor

    4/8/2026legislature

  2. Enrolled Bill Signed

    4/2/2026Senate

  3. Enrolled Bill Signed

    4/1/2026House

  4. Conference Report Adopted

    3/30/2026Senate

  5. Conference Report Adopted

    3/30/2026House

  6. Conference Report Filed

    3/29/2026House

  7. Conference Report Filed

    3/29/2026Senate

  8. Conferees Named Johnson,DeLano,Hickman

    3/23/2026Senate

  9. Conferees Named Aguirre,Boyd (37th),Hawkins

    3/23/2026House

  10. Decline to Concur/Invite Conf

    3/17/2026House

  11. Returned For Concurrence

    3/11/2026Senate

  12. Passed As Amended

    3/10/2026Senate

  13. Amended

    3/10/2026Senate

  14. Title Suff Do Pass As Amended

    2/26/2026Senate

  15. Referred To Business and Financial Institutions

    2/18/2026Senate

  16. Transmitted To Senate

    2/13/2026House

  17. Passed

    2/12/2026House

  18. Committee Substitute Adopted

    2/12/2026House

  19. Read the Third Time

    2/11/2026House

  20. Title Suff Do Pass Comm Sub

    2/3/2026House

  21. Referred To Banking and Financial Services

    1/19/2026House

Bill Text

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