Emergency order. (Effective April 30, 2027)

(1) As used in this section: (a) "Emergency order" means an order that does one (1) or more the following without prior notice and hearing: 1. Suspends or conditions: a. Any license; or b. An approval to engage in virtual currency kiosk business at a location, or through an agent, in this state; or 2. Directs any peace officer to: a. Seize or impound a virtual currency kiosk, including any contents thereof; or b. Render a virtual currency kiosk inoperable; and (b) "Person" means any licensee, virtual currency kiosk operator, agent, or other person. (2) Subject to KRS 286.13-125, the commissioner may issue an emergency order against any person, pending further investigation, the entry of a final order, or other final legal action, if the commissioner has reason to believe or determines one (1) or more of the following: (a) The person is acting in violation of KRS 286.13-025; (b) The licensee is not in compliance with KRS 286.13-050; (c) The person has committed a material violation of this subtitle that poses an immediate and irreparable harm to the public health, safety, or welfare; (d) Subject to KRS 335B.020, the licensee or agent has been convicted of, pled guilty to, or pled nolo contendere, or the licensee is knowingly employing or contracting with a responsible individual that has been convicted of, pled guilty to, or pled nolo contendere, to a: 1. Felony involving theft, fraud, or breach of trust; or 2. A crime under the USA PATRIOT Act of 2001, Pub. L. No. 107-56; (e) The licensee has had any license, registration, claim of exemption, or other authorization to do business relating to money transmission or virtual currency kiosk business denied, revoked, suspended, or terminated by any state, federal, or foreign jurisdiction; (f) The licensee, agent, the licensee's responsible individual, or any key shareholder, executive officer, director, or other person in control of the licensee or agent is listed or becomes listed on the specially designated nationals and blocked persons list prepared by the United States Department of the Treasury or United States Department of State under Presidential Executive Order No. 13224 as a potential threat to commit terrorist acts or to finance terrorist acts; or (g) The licensee or agent is insolvent or otherwise satisfies one (1) of the grounds listed in KRS 286.13-130(2)(b). (3) An emergency order issued under this section shall: (a) Pursuant to KRS 13B.125, become effective when served by the commissioner; and (b) Remain in effect until it is: 1. Stayed, withdrawn, suspended, or superseded by order of the commissioner; or 2. Terminated by court order.