All Roll Calls
Yes: 107 • No: 11
South DakotaSB 98101st South Dakota Legislature (2026)SenateWALLET
prevent virtual currency kiosk fraud.
Sponsored By: Kolbeck, Steve (Republican), Weisgram, Mike (Republican)
Signed by Governor
Banks and BankingLicensureReportsVirtual Currency
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Bill Overview
Analyzed Economic Effects
6 provisions identified: 2 benefits, 1 costs, 3 mixed.
Fast refunds for kiosk fraud victims
Licensed kiosk companies must refund the full amount of fraudulent transactions, including all charges. Notify the company of all affected transactions within 90 days after the last fraud occurrence or learning about it. Submit a police report, government-agency report, or sworn statement describing known fraud within 120 days after contacting the company. The company must refund you within 72 hours after you complete these steps.
Kiosk identity safeguards require personal information
Identity checks add fraud safeguards but require users to share personal information before each payment. Companies must obtain a copy of your government-issued ID and collect your full legal name and date of birth. They must also collect your phone number, mailing and physical addresses, and email address. You cannot use another person’s name, account, or identity. Companies are legally responsible for violations even without proof of fault.
Kiosk users face spending and fee caps
Companies must limit each user’s transactions to $1,000 daily and $10,000 in any 30-day period, or equivalent virtual currency. Companies can set lower limits. These caps cover all kiosk products and services; affiliated kiosks, online portals, and over-the-counter transactions cannot bypass them. Direct and indirect charges cannot exceed 25% of a single transaction’s amount. Charges include fees and the difference between the market price and the price charged to you.
Kiosk users get warnings and live help
Before each transaction, companies must clearly explain risks, fees, fraud warnings, and how to stop a transaction in your chosen language. Warnings must explain that virtual currency is volatile, not government-issued or legal tender, and lacks FDIC, NCUA, or SIPC insurance. Companies must obtain and record your acknowledgment and consent; acknowledging disclosures does not affect fraud-refund eligibility. Paper and electronic receipts must show transaction type, value, exact time, currency addresses, ledger identifiers, dollar exchange rate, refund policy, and all charges. Kiosks must display company and fraud-reporting agency contacts, plus a toll-free number offering live help at least from 8:00 a.m. to 10:00 p.m. local time.
Kiosk operators must license and report
Every South Dakota kiosk operator must hold a state license; these rules supplement existing licensing requirements. Annual renewal reports must include kiosk-level and statewide transaction counts, dollar amounts, and revenue. They must include complaint copies and outcomes, refund-request counts and dollars and their outcomes, compliance-officer contacts, and location counts. Reports must also give counts and dollar amounts of federal suspicious activity reports. Quarterly reports must list legal and business names, addresses, kiosk locations, operating start and stop dates, currency-access and transfer identifiers, and counts of transactions declined for suspected fraud.
Kiosk fraud safeguards block risky transfers
Companies must maintain written fraud-prevention plans covering risks, controls, monitoring duties, and regular review, and follow federal Bank Secrecy Act requirements. The law references that federal act as enacted January 1, 2026, and requires suspicious activity reports. Software must analyze public ledger data and block destinations known or reasonably likely to be linked to fraud. Companies must also block overseas platforms that bar U.S. users and provide annual outside fraud training for staff; staff cannot be barred from educating users. Companies must frequently monitor a dedicated agency phone line or email, share requested findings, and help fraud investigations.
Sponsors & Cosponsors
Sponsors
Kolbeck, Steve
Republican • Senate
Weisgram, Mike
Republican • House
Cosponsors
Duffy, Steve
Republican • House
Emery, Eric
Democratic • House
Goodwin, Tim
Republican • House
Healy, Erin
Democratic • House
Heermann, Mellissa
Republican • House
Larson, Liz
Democratic • Senate
Mehlhaff, Jim
Republican • Senate
Moore, Scott
Republican • House
Muckey, Erik
Democratic • House
Perry, Carl
Republican • Senate
Pischke, Tom
Republican • Senate
Roby, Matt
Republican • House
Rohl, Michael H.
Republican • Senate
Uhre-Balk, Nicole
Democratic • House
Vilhauer, Glen
Republican • Senate
Walburg, Tim
Republican • House
Wittman, Kadyn
Democratic • House
Roll Call Votes
House vote • 3/3/2026
Do Pass Amended
Yes: 59 • No: 7
House vote • 3/2/2026
Do Pass
Yes: 10 • No: 2
Senate vote • 2/17/2026
Do Pass Amended
Yes: 31 • No: 2
Senate vote • 2/10/2026
Do Pass Amended
Yes: 7 • No: 0
Actions Timeline
Signed by the Governor
3/12/2026SenateDelivered to the Governor
3/9/2026SenateSigned by the Speaker
3/5/2026HouseSigned by the President
3/4/2026SenateDo Pass Amended
3/3/2026HouseDo Pass
3/2/2026HouseScheduled for hearing
3/2/2026HouseFirst read in House and referred to
2/18/2026HouseDo Pass Amended
2/17/2026SenateRemove from Consent Calendar
2/12/2026SenateCertified uncontested, placed on consent
2/10/2026SenateDo Pass Amended
2/10/2026SenateMotion to amend
2/10/2026SenateScheduled for hearing
2/10/2026SenateScheduled for hearing
2/3/2026SenateFirst read in Senate and referred to
1/20/2026Senate
Bill Text
Introduced
1/18/2026
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