SB 779 - This act creates the "Virtual Currency Kiosk Consumer Protection Act" which establishes certain requirements pertaining to and regulations governing virtual currency kiosk operators. REQUIREMENTS OF VIRTUAL CURRENCY KIOSK OPERATORS Each virtual currency kiosk operator must meet the following requirements: • Operators must make certain disclosures upon establishing a relationship with a customer or prior to opening an account for a new customer, indicating the material risks associated with the products, services, and activities offered, as well as the terms and conditions of the services provided; • Upon completing a transaction, an operator shall provide a receipt containing specific information, as detailed in the act; • Operators shall operate live customer service weekdays between 8:00 a.m. and 10:00 p.m.; • Operators must take steps to prevent fraud, as specified in the act, including by establishing and maintaining a written anti-fraud policy and by the use of blockchain analytics; • Operators must maintain, implement, and enforce a written "Enhanced Due Diligence Policy"; • Operators must designate and employ a compliance officer with responsibilities as described in the act, and maintain, implement, and enforce written compliance policies and procedures; • Operators must designate and employ a consumer protection officer, with responsibilities as described in the act. Virtual currency kiosk operators are required to submit quarterly reports to the Division of Finance detailing the location of each virtual currency kiosk located in the state. Virtual currency kiosk operators are deemed to be money transmitters and are required to be licensed under and comply with the Money Transmission Modernization Act of 2024. POWER OF DIVISION DIRECTOR The Director of the Division of Finance is permitted to request evidence showing compliance with this act as reasonably necessary or appropriate to administer the act. An operator is required to provide the Director with any records so requested. CONFIDENTIALITY OF RECORDS All information or reports obtained by the Division from a virtual currency kiosk operator, and all information contained in or related to an examination, investigation, operating report, or condition report are confidential and not subject to disclosure under the Sunshine Law. This act is identical to certain provisions in the truly agreed to SS/SCS/SB 98 (2025), the truly agreed to SS/SCS/HB 754 (2025), and HB 1428 (2025). SCOTT SVAGERA