Bills › 91st General Assembly
Relating to digital financial asset transaction kiosks and including penalties, and effective date and applicability provisions
Sponsored by the Senate Technology Committee
Topics:Technology & privacy
Same legislation: SSB 1142
Where it is now
- Done: IntroducedFebruary 18, 2025
- Done: SubcommitteeFebruary 18, 2025
- Done: Senate committeeFebruary 25, 2025
- Done: Passes the SenateMarch 26, 202545–2
- Done: House committeeApril 2, 2025
- Done: Passes the HouseMay 12, 202577–12
- Done: To the GovernorMay 19, 2025
- Done: Signed into lawMay 19, 2025
Signed into law What’s a funnel?
What’s in it
This bill relates to digital financial asset transaction kiosks. “Digital financial asset transaction kiosk” (kiosk) is defined in the bill. Under the bill, an operator shall not, via a kiosk, accept from, or dispense to, a consumer more than $1,000 per day. “Operator” is defined in the bill. An operator shall not collect charges from a consumer related to a digital financial asset transaction (transaction) that exceed the greater of $5, or percent of the United States currency equivalent of digital financial assets (asset) involved in the transaction.
Read the full explanation
Prior to a transaction, the operator shall provide a written disclosure to the consumer that includes the dollar amount of the asset involved in the transaction, any charges collected by the operator, if an operator does not provide a method to reverse or refund a transaction, a warning that all transactions are final, and a warning against fraud. The disclosure shall be clear and conspicuous and provided separately from any other disclosure provided by the operator. For any transaction made at an operator’s kiosk, the operator shall provide the consumer with a receipt that includes the information detailed in the bill. When possible, the receipt shall be a physical receipt. The operator may provide the receipt in multiple communications if necessary. An operator shall provide a list to the division of banking (division) of all locations of the operator’s kiosks in the state. An operator shall provide the division with updates to the list within days of a change. The division shall make each operator’s list available to the public via the division’s internet site.301, and that charges collected from a consumer via the kiosk comply with the bill. An operator shall provide live customer service as detailed in the bill. An operator shall use blockchain analytics software to protect against fraud as detailed in the bill, and an operator shall maintain a dedicated telephone number and email address for use by law enforcement and regulatory agencies.
From the explanation printed with the bill as introduced, written by the Legislative Services Agency. Changed since by amendment S-3057; see Amendments. Full bill text · What changed before it passed
House subcommittee
Named March 28, 2025. On March 31, 2025 it recommended passage.
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Iowa Code it changes
Creates§533C.1004
Read from the bill as introduced. Each links to every bill touching that chapter of the Iowa Code. How the Code works
Lobbying
5 for · 2 against · 12 undecided · Who →
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91st General Assembly
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