Shown verbatim: the complete text as captured from the official PDF posted by the Oklahoma Legislature, fetched 2026-07-23. Page and line markers are part of the official record; nothing is edited or removed. The official bill page.
1 STATE OF OKLAHOMA
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2 2nd Session of the 60th Legislature (2026)
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3 SENATE BILL 2025 By: Deevers
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5 AS INTRODUCED
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6 An Act relating to digital asset kiosks; creating the
6 Virtual Currency Kiosk Consumer Access and Protection
7 Act; providing short title; defining terms; requiring
7 certain operators to hold certain licenses to operate
8 in this state; requiring certain submission to the
8 Banking Department; establishing certain report
9 requirements; requiring certain interface to display
9 certain information; requiring certain fraud warning
10 to be displayed during certain time of transaction;
10 requiring certain fraud warning to include certain
11 information; requiring display of certain telephone
11 number; requiring provision of certain receipt after
12 certain transaction; requiring certain transaction
12 limits for certain customers; requiring certain
13 records to be maintained by certain operator;
13 requiring certain records to be preserved for a
14 certain period of time; requiring certain operator to
14 cooperate with certain investigations; construing
15 provisions; allowing Banking Department to promulgate
15 rules; allowing the Department to conduct certain
16 investigations and examinations of certain operators;
16 providing for certain fees; providing for certain
17 penalties; establishing certain remedies and
17 penalties to be cumulative; allowing certain operator
18 to challenge certain final order in a certain manner;
18 providing for codification; and providing an
19 effective date.
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21 BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
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22 SECTION 1. NEW LAW A new section of law to be codified
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23 in the Oklahoma Statutes as Section 1521 of Title 6, unless there is
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24 created a duplication in numbering, reads as follows:
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Req. No. 3445 Page 1
1 This act shall be known and may be cited as the "Virtual
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2 Currency Kiosk Consumer Access and Protection Act".
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3 SECTION 2. NEW LAW A new section of law to be codified
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4 in the Oklahoma Statutes as Section 1521.1 of Title 6, unless there
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5 is created a duplication in numbering, reads as follows:
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6 As used in this act:
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7 1. "Customer" means an individual who uses a digital asset
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8 kiosk to conduct a transaction involving digital assets;
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9 2. "Digital asset" means virtual currencies, cryptocurrencies,
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10 including stablecoins, fungible tokens, non-fungible tokens, and
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11 other digital-only assets that confer economic, proprietary, or
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12 access rights or powers;
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13 3. "Digital asset kiosk" means an electronic terminal that
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14 enables a consumer to exchange fiat currency for digital assets, or
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15 digital assets for fiat currency. Digital asset kiosk includes, but
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16 is not limited to, a machine that either connects to an external
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17 digital asset exchange to execute the transaction or dispenses
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18 digital assets from the kiosk operator's own holdings;
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19 4. "Digital asset kiosk operator" means a person or entity
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20 authorized to do business in this state that owns or operators one
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21 or more digital asset kiosks in this state;
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22 5. "Fiat currency" means government-issued currency that is
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23 designated as legal tender in the United States and is not backed by
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24 a physical commodity;
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Req. No. 3445 Page 2
1 6. "Money transmission license" means a license issued in this
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2 state to engage in the business of money transmission;
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3 7. "New customer" means a customer during the period of five
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4 (5) calendar days following the date of that customer's first
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5 transaction with a digital asset kiosk operator; and
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6 8. "Virtual business license" means a license, registration, or
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7 other authorization issued under the laws of this state to engage in
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8 digital asset or virtual currency business activity.
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9 SECTION 3. NEW LAW A new section of law to be codified
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10 in the Oklahoma Statutes as Section 1521.2 of Title 6, unless there
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11 is created a duplication in numbering, reads as follows:
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12 A. No digital asset kiosk operator shall operate any digital
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13 asset kiosk in this state unless the operator:
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14 1. Holds a valid money transmission license; or
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15 2. Holds a valid virtual business license.
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16 B. A digital asset kiosk operator shall submit to the Banking
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17 Department an annual report listing all digital asset kiosk
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18 locations operated in this state. The report shall include:
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19 1. The name of the business or establishment where each digital
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20 asset kiosk is located;
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21 2. The physical address of the location where each digital
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22 asset kiosk is located;
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23 3. The date on which each digital asset kiosk began operation;
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24 and
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Req. No. 3445 Page 3
1 4. The date on which each digital asset kiosk ceased operation,
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2 if applicable.
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3 C. Each digital asset kiosk operation shall ensure that each
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4 kiosk's user interface prominently displays the following
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5 information to the customer before the customer commits to a
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6 transaction:
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7 1. All fees or charges the customer will incur for the
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8 transaction;
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9 2. The applicable exchange rate or price used to convert
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10 between fiat currency and the digital asset, if applicable;
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11 3. A notice that transactions in digital assets are irrevocable
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12 and cannot be refunded once executed; and
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13 4. A notice that digital assets and transactions conducted
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14 through the digital asset kiosk are not insured or guaranteed by the
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15 Federal Deposit Insurance Corporation or the Securities Investor
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16 Protection Corporation.
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17 D. Each digital asset kiosk operator shall ensure that a fraud
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18 warning is displayed on the kiosk interface before a customer may
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19 complete any transaction. The fraud warning shall:
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20 1. Describe common scam tactics involving digital asset kiosks
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21 and shall advise the customer not to proceed with the transaction if
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22 he or she is being instructed or pressured by a third party or if he
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23 or she suspects fraud;
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1 2. State that no government agency or official will ever
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2 request payment using a digital asset kiosk; and
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3 3. Direct customers who suspect fraud to contact the phone
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4 number displayed on the kiosk pursuant to subsection E of this
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5 section.
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6 E. Each digital asset kiosk shall display a valid telephone
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7 number that customers can call for assistance or to report issues.
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8 Such telephone number shall connect either to the digital asset
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9 kiosk operator's customer service center or to a designated local
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10 law enforcement nonemergency line. The telephone number shall be
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11 posted prominently on the kiosk or its electronic display so that
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12 customers can easily see it before and during a transaction.
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13 F. Upon completion of any transaction at a digital asset kiosk,
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14 the digital asset kiosk operator shall provide the customer with a
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15 receipt in either printed or electronic form. Each receipt shall
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16 include:
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17 1. The date and time of the transaction;
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18 2. The type and amount of digital asset transacted and, if
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19 applicable, the corresponding amount of fiat currency exchanged;
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20 3. The fees charged for the transaction;
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21 4. The exchange rate applied; and
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22 5. The name of the digital asset kiosk operator and the
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23 operator's customer service contact information.
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1 G. Each digital asset kiosk operator shall implement
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2 transaction limits for new customers. New customers shall not be
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3 permitted to conduct transactions totaling more than Three Thousand
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4 Dollars ($3,000.00) per calendar day through a digital asset kiosk.
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5 SECTION 4. NEW LAW A new section of law to be codified
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6 in the Oklahoma Statutes as Section 1521.3 of Title 6, unless there
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7 is created a duplication in numbering, reads as follows:
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8 A. Each digital asset kiosk operator shall maintain complete
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9 and accurate records of all digital asset kiosk transactions and
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10 related customer information as required under applicable state and
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11 federal law. The records shall be preserved, at minimum, for the
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12 period of time required by the Banking Department's regulations or
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13 other applicable law.
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14 B. A digital asset kiosk operator shall cooperate with law
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15 enforcement authorities in the investigation and prevention of fraud
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16 and other unlawful activities. Such cooperation shall include, but
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17 is not limited to:
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18 1. Promptly complying with lawful subpoenas, court orders, and
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19 other official requests for records or information relating to
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20 digital asset kiosks or customers;
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21 2. Respond in good faith to lawful requests from the Banking
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22 Department or law enforcement relating to fraud involving a digital
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23 asset kiosk; and
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1 3. Designate a point of contact within the digital asset kiosk
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2 operator's organization for communication with the Department and
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3 law enforcement regarding fraud-related matters.
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4 C. No provision of this section shall be construed to require a
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5 digital asset kiosk operator to monitor or block transactions in
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6 real time except as required by applicable law.
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7 SECTION 5. NEW LAW A new section of law to be codified
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8 in the Oklahoma Statutes as Section 1521.4 of Title 6, unless there
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9 is created a duplication in numbering, reads as follows:
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10 A. The Banking Department may promulgate any rules necessary
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11 for the enforcement of this act. The Department may conduct
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12 investigations and examinations of digital asset kiosk operators as
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13 reasonably necessary to ensure compliance with this act and any
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14 rules adopted pursuant to this act. In conducting such
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15 investigations, the Department may:
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16 1. Require a digital asset kiosk operator to submit reports or
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17 documentation relevant to its digital asset kiosk business and
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18 compliance with this act;
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19 2. Inspect the books, records, and digital asset kiosks of the
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20 operator during normal business hours; and
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21 3. Take testimony or issue subpoenas to compel the appearance
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22 of witnesses and the production of documents.
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Req. No. 3445 Page 7
1 B. If the Department determines that a digital asset kiosk
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2 operator has violated this act or any rule or order issued pursuant
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3 to this act, the Department may:
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4 1. Issue an order requiring the operator to cease and desist
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5 the violation and to take corrective action as necessary to comply
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6 with this act;
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7 2. Impose an administrative fine or penalty. Each violation,
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8 or each day that a violation continues, may be treated as a separate
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9 violation. The maximum penalty for each violation shall be One
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10 Thousand Dollars ($1,000.00); and
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11 3. Suspend or revoke the digital asset kiosk operator's license
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12 or virtual business license, or suspend or prohibit such operator
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13 from operating any digital asset kiosks in this state.
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14 C. The remedies and penalties provided in this section shall be
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15 cumulative and shall not limit enforcement under other applicable
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16 laws of this state.
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17 D. Nothing in this act shall be construed to limit the rights
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18 of any person to pursue civil remedies against a digital asset kiosk
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19 operator or to restrict the authority of the Attorney General or
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20 other authorized officials of this state to bring civil or criminal
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21 proceedings under applicable law.
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22 E. A digital asset kiosk operator may challenge any final order
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23 or enforcement action taken by the Department pursuant to this act
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Req. No. 3445 Page 8
1 by filing an appeal in a court of competent jurisdiction in
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2 accordance with applicable state law.
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3 SECTION 6. This act shall become effective November 1, 2026.
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5 60-2-3445 CAD 1/15/2026 10:29:13 AM
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Req. No. 3445 Page 9Every fact on this page links to its source, starting with the official bill record.