SF 449: Relating to digital financial asset transaction kiosks and including penalties, and effective date and applicability provisions

What it does

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.

House subcommittee · named March 28, 2025

• Rep. Shannon Lundgren (R) · shannon.lundgren@legis.iowa.gov
• Rep. Kenan Judge (D) · kenan.judge@legis.iowa.gov
• Rep. Judd Lawler (R) · judd.lawler@legis.iowa.gov

Lobbying · 5 for, 2 against

For: AARP Iowa; Community Bankers of Iowa; Fareway Stores, Inc.; Iowa Bankers Association; Iowa State Sheriffs' & Deputies' Association

Against: Bitcoin Depot Operating, LLC; CoinFlip

In plain words

1. February 18, 2025Filed in the Senate and sent to the Technology committee · as SSB 1142
2. February 18, 2025Senate subcommittee named: McClintock, Bennett and Sires · as SSB 1142
3. February 19, 2025Subcommittee recommended passing it · as SSB 1142
4. February 25, 2025Approved by the Senate committee, and given a new number: SF 449 · as SSB 1142
5. February 26, 2025Filed in the Senate
6. February 26, 2025Approved by the Senate committee
7. March 26, 2025Passed the Senate, 45–2
8. March 27, 2025Arrived in the House
9. March 28, 2025House subcommittee named: Lundgren, Judge and Lawler
10. March 31, 2025Subcommittee recommended passing it
11. April 2, 2025Approved by the House committee
12. April 2, 2025Committee vote: 18–1
13. May 12, 2025Passed the House, 77–12
14. May 19, 2025Sent to the Governor
15. May 19, 2025Signed into law