IowaIowa law requires licenses for digital financial kiosk operators
Iowa kiosk operators must hold a money transmission license, and violations of the kiosk rules are unlawful practices.
What it does
Operators who own, run, promote, or help facilitate a digital financial kiosk in Iowa must obtain a money transmission license.
Violating the rules in section 533C.1004 is an unlawful practice, and the attorney general may bring a civil case when there is a reasonable belief that an operator broke those rules.
Argument forClassifying kiosk rule violations as unlawful practices could give the attorney general another way to enforce the rules and address consumer problems.
Argument againstOperators who do not obtain a money transmission license may have to stop owning, running, promoting, or facilitating kiosks in Iowa.
More detail
Kiosk operators must obtain a money transmission license. This applies to operators of digital financial asset kiosks in Iowa. The operator must obtain the license if it owns, operates, solicits, markets, advertises, or facilitates a kiosk in Iowa. The act took effect upon enactment.
A violation of section 533C.1004 is an unlawful practice. The provision applies to people who violate section 533C.1004, including kiosk operators. The attorney general may bring a civil action when there is a reasonable belief that an operator violated the section. The act took effect upon enactment and applies to civil actions started on or after that date.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- May 6Signed by Governor Kim Reynolds.Became Law
- May 5Reported correctly enrolled, signed by President and Speaker, and sent to Governor.To Governor
- Mar 30Explanation of vote.
- Mar 24Message from House.
- Vote recorded Shall the bill pass? Result: pass.Lower
- Mar 24Immediate message.
- Mar 24Passed House, yeas 95, nays 0.Passed 2nd Chamber
- Mar 19Placed on calendar.
- Mar 19Committee vote: Yeas, 22. Nays, 0. Excused, 1.
- Mar 19Committee report, recommending passage.Minor
- Mar 9Subcommittee recommends passage.Minor
- Mar 4Subcommittee Meeting: 03/09/2026 12:00PM House Lounge.
- Mar 4Subcommittee: Lundgren, Bossman and Judge.
- Mar 2Read first time, referred to Commerce.Minor
- Vote recorded Shall the bill pass? Result: pass.Upper
- Mar 2Message from Senate.
- Mar 2Immediate message.
- Mar 2Passed Senate, yeas 44, nays 0.Passed 1st Chamber
- Mar 2Amendment S-5042 filed, adopted.Major
- Feb 12Committee report, approving bill.Minor
- Feb 12Introduced, placed on calendar.Introduced
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