AlaskaAlaska requires licensing and safeguards for virtual currency kiosks
Starting October 1, 2026, kiosk operators must get state approval, check users' identities, explain transaction risks, and follow limits on transactions and fees.
What it does
Kiosk operators must hold a state money transmission license and get state approval before placing kiosks in Alaska. They must also report on kiosk locations and business activity.
Before taking payment, operators must check users' IDs and explain charges and risks, including scam warnings. A user may transact up to $1,000 per day and $10,000 in 30 days, and fees cannot exceed 10 percent.
Customers who meet the reporting deadlines must receive a full refund, including charges, in the currency they paid. Operators must also use fraud detection tools and block certain transactions.
Argument forScam warnings and full refunds for customers who meet the fraud reporting rules could help people spot fraud and recover what they paid.
Argument againstDaily and monthly transaction limits and required ID checks could make kiosks less useful to customers who need larger transactions or want more privacy.
More detail
Kiosk operators must hold a money transmission license and get state approval before placing kiosks in Alaska. These rules cover people who own, operate, manage, or provide services for virtual currency kiosks located in Alaska. Operators must register with and receive prior approval from the state department before locating a kiosk in Alaska. Operators must report for each calendar quarter within 45 days after it ends and file an annual report by March 31 for the previous calendar year.
Operators must check users' identities, give required disclosures, and follow transaction and fee limits. These requirements apply to virtual currency kiosk operators and users making transactions through their kiosks. Before taking payment, operators must obtain a copy of a government-issued ID and collect the user's name, birth date, phone number, address, and email. Operators must disclose charges and exchange rates, along with scam and virtual currency risk warnings. Daily transactions may not exceed $1,000 per user, or $10,000 in a 30-day period; fees may not exceed 10 percent of transaction value. The limits cover all products and cannot be avoided through other purchasing methods. The $1,000 limit applies in one calendar day; the $10,000 limit applies in a 30-day period.
Operators must refund qualifying fraud victims and take steps to detect fraud and money laundering. The refund rule covers users whose kiosk transactions were affected by fraud. A user must tell the operator about the fraud within 90 days after the last transaction or within 90 days after learning of it, whichever is later, and provide a police report, department report, or sworn statement within 120 days after contacting the operator. The refund must cover all transaction payments and charges in the originating currency. Operators must also use blockchain analysis to help detect fraud and block transactions to wallets linked to overseas exchanges inaccessible to users in the United States. The act states that it takes effect October 1, 2026.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Jul 16(S) EFFECTIVE DATE(S) OF LAW 10/1/26Latest
- Jul 16(S) LAW W/O GOVERNOR SIGNATURE 6/30 CHAPTER 50 SLA 26Major
- Jun 15(S) 3:55 P.M. 6/15/26 Transmitted to GovernorTo Governor
- May 20(S) EFFECTIVE DATE(S) SAME AS PASSAGE
- Vote recorded (S) CONCUR AM OF (H) Y20 N- #2826. Result: pass.Upper
- May 20(S) CONCUR AM OF (H) Y20 N-
- May 20(S) CONCUR MESSAGE READ AND TAKEN UP
- May 19(H) VERSION: HCS CSSB 249(L&C)
- Vote recorded (H) PASSED Y40 #2906. Result: pass.Lower
- May 19(H) TRANSMITTED TO (S) AS AMENDEDMajor
- May 19(H) VANCE
- May 19(H) CROSS SPONSOR(S): GRAY, HALL, TOMASZEWSKI, JOSEPHSON, GALVIN, MCCABE, MEARS,
- May 19(H) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 19(H) PASSED Y40Major
- May 19(H) READ THE THIRD TIME HCS CSSB 249(L&C)Minor
- May 19(H) ADVANCED TO THIRD READING UCMinor
- May 19(H) L&C HCS ADOPTED UC
- May 19(H) READ THE SECOND TIMEMinor
- May 19(H) RULES TO CALENDAR 5/19/2026
- May 14(H) FN1: ZERO(CED)
- May 14(H) AM: SADDLER
- May 14(H) DP: FRIER, COULOMBE, CARRICK, FIELDS, HALL
- May 14(H) L&C RPT HCS(L&C) 5DP 1AM
- May 13(H) Moved HCS CSSB 249(L&C) Out of Committee -- Recessed to 08:00 am 5/14--
- May 13(H) LABOR & COMMERCE at 03:15 PM BARNES 124
- May 13(H) L&C
- May 13(H) READ THE FIRST TIME - REFERRALSMinor
- May 12(S) VERSION: CSSB 249(JUD) AM
- Vote recorded (S) PASSED Y20 N- #2602. Result: pass.Upper
- May 12(S) TRANSMITTED TO (H)Passed House
- May 12(S) EFFECTIVE DATE(S) SAME AS PASSAGE
- May 12(S) PASSED Y20 N-Passed Senate
- May 12(S) STEVENS
- May 12(S) COSPONSOR(S): KAWASAKI, GIESSEL, GRAY-JACKSON, RAUSCHER, KAUFMAN, STEDMAN,
- May 12(S) AUTOMATICALLY IN THIRD READINGMinor
- May 12(S) AM NO 1 ADOPTED UCMajor
- May 12(S) RETURN TO SECOND FOR AM 1 UC
- May 12(S) READ THE THIRD TIME CSSB 249(JUD)Minor
- May 11(H) <Bill Hearing Canceled> -- Delayed to a Call of the Chair --
- May 11(H) LABOR & COMMERCE at 03:15 PM BARNES 124
- May 11(S) COSPONSOR(S): CLAMAN, MERRICK, BJORKMAN, TOBIN
- May 11(S) ADVANCED TO THIRD READING 5/12 CALMinor
- May 11(S) JUD CS ADOPTED UC
- May 11(S) READ THE SECOND TIMEMinor
- May 11(S) RULES TO CALENDAR 5/11/2026
- Apr 27(S) FN1: ZERO(CED)
- Apr 27(S) NR: TOBIN
- Apr 27(S) DP: CLAMAN, TILTON, KIEHL, STEVENS
- Apr 27(S) JUD RPT CS 4DP 1NR TECHNICAL TITLE CHANGE
- Apr 24(S) Moved CSSB 249(JUD) Out of Committee
- Apr 24(S) JUDICIARY at 01:30 PM BUTROVICH 205
- Mar 30(S) Heard & Held
- Mar 30(S) JUDICIARY at 01:30 PM BUTROVICH 205
- Mar 20(S) Heard & Held
- Mar 20(S) JUDICIARY at 01:30 PM BUTROVICH 205
- Mar 18(S) COSPONSOR(S): DUNBAR
- Mar 18(S) FN1: ZERO(CED)
- Mar 18(S) AM: DUNBAR, MERRICK
- Mar 18(S) NR: YUNDT, GRAY-JACKSON
- Mar 18(S) DP: BJORKMAN
- Mar 18(S) L&C RPT CS 1DP 2NR 2AM SAME TITLE
- Mar 16(S) Minutes (SL&C)
- Mar 16(S) Moved CSSB 249(L&C) Out of Committee
- Mar 16(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- Mar 13(S) Minutes (SL&C)
- Mar 13(S) Heard & Held
- Mar 13(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- Mar 2(S) Minutes (SL&C)
- Mar 2(S) Heard & Held
- Mar 2(S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)
- Feb 19(S) COSPONSOR(S): CRONK, MYERS
- Feb 18(S) L&C, JUD
- Feb 18(S) READ THE FIRST TIME - REFERRALSIntroduced
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