SB 25-079: Colorado Vending of Digital Assets Act - Colorado

Revised (04/23/2025) → PA1 (02/20/2025) · 4 edits

MODERATE

The bill was amended to remove references to 'new customer' transaction limits and reorganized definitions of virtual currency. The most significant change is the addition of mandatory risk disclosures and warnings for customers using virtual currency kiosks, including a specific warning about potential fraud and instructions to contact law enforcement if approached by unknown individuals.

Scope change

The bill's scope remains focused on virtual currency kiosks in Colorado, but the applicability of transaction limits for new customers was removed.

REQUIREMENT

Removed the definition of 'new customer' and the associated seven-day transaction limit that previously applied to first-time users of virtual currency kiosks.

Added mandatory risk disclosure requirements that kiosks must display on their screens, including a specific warning about fraud and instructions to contact law enforcement if approached by unknown individuals claiming to be government agents.

Added requirements for kiosks to disclose terms and conditions regarding customer liability for unauthorized transactions and circumstances under which account information may be shared with third parties.

DEFINITION

Reorganized and modified definitions of virtual currency, separating inclusions and exclusions more clearly and adding a new definition for 'virtual currency wallet'.

Rerevised (04/25/2025) → Revised (04/23/2025) · 3 edits

MINOR

The bill was revised to include new provisions related to virtual currency transactions and definitions. The revision adds a new subsection (b) regarding drawing upon virtual currency in possession of terminal owners, and introduces a new definition for 'virtual currency wallet' to clarify how virtual currency is held and transferred.

Scope change

The bill's scope expanded to explicitly include virtual currency wallet mechanisms and clarify the relationship between virtual currency terminals and their operators.

DEFINITION

Added a new definition for 'virtual currency wallet' to clarify it as software or mechanisms for holding, storing, and transferring virtual currency.

SCOPE

Added new subsection (b) to expand coverage to include drawing upon virtual currency in the possession of electronic terminal owners or operators.

TECHNICAL

Updated document header from 'REREVISED' to 'REVISED' and adjusted amendment adoption language to reflect second reading status.

PA2 (04/15/2025) → Rerevised (04/25/2025) · 4 edits

MODERATE

The bill was revised to include all amendments adopted by the Second House, expanding the list of House sponsors and adding a '3rd Reading Unamended' status. Substantive content changes include the removal of specific virtual currency transaction definitions (connecting to separate exchangers and drawing upon owner's currency) and the deletion of an entire section regarding virtual currency kiosk disclosures, receipts, and daily limits.

Scope change

The bill's scope was narrowed by removing detailed provisions about virtual currency kiosk operations, including mandatory risk disclosures, receipt requirements, and daily transaction limits that were previously included in the text.

TECHNICAL

Added new House sponsors (Bacon, Joseph, Lieder, Mabrey, Paschal, Ricks, Rutinel) to the bill sponsorship list.

Added '3rd Reading Unamended' status dated April 25, 2025, indicating the bill passed the House without further amendments at that stage.

DEFINITION

Removed definitions for virtual currency transaction methods involving separate exchangers and owner possession of currency.

REQUIREMENT

Deleted Section 11-112-103, which contained requirements for virtual currency kiosk operators to provide risk disclosures, receipts, and daily transaction limits.

Final Act (05/02/2025) → PA2 (04/15/2025) · 2 edits

MINOR

The bill text was reformatted from a draft version to a final act version with official headers, committee information, and bill summary. The substantive policy content regarding the Colorado Vending of Digital Assets Act remains unchanged, including definitions, disclosure requirements, and transaction limits.

TECHNICAL

Document structure changed from draft format to official final act format with added headers, committee assignments, and bill summary.

Page numbers and formatting markers were replaced with clean text suitable for publication.

Signed Act (06/02/2025) → Final Act (05/02/2025) · 4 edits

MODERATE

This bill was finalized and signed into law, with minor formatting corrections and one substantive change to a transaction limit reference. The main policy content regarding digital asset vending regulations remains intact, though some text formatting was adjusted during the legislative process.

Scope change

No substantive change to the bill's scope or applicability; the bill was finalized with formatting corrections and one minor reference update.

TECHNICAL

Corrected formatting and spacing throughout the document during finalization.

Updated a reference from 'SECTION 1 1 12-103' to 'SECTION 11-112-103' for accuracy.

REQUIREMENT

Removed a cancellation and refund provision for virtual currency transactions that was present in the signed version but not in the final act.

PROCEDURAL

Added a note indicating the bill has been prepared for signatures and directing readers to legislative status resources.

Reengrossed (02/28/2025) → Signed Act (06/02/2025) · 5 edits · Jun 2, 2025

MODERATE

The bill was reengrossed to add new sponsors and update the text of the Colorado Vending of Digital Assets Act. The substantive policy changes include clarifying definitions of virtual currency to exclude certain gaming and rewards tokens, and significantly increasing the daily transaction limits for virtual currency kiosks from $1,000 to $2,000 for new customers and $10,500 for existing customers.

Scope change

The bill's scope remains focused on virtual currency kiosks, but the definition of 'virtual currency' was modified to explicitly exclude digital units used solely in online gaming or certain consumer rewards programs, narrowing the types of digital assets covered.

ELIGIBILITY

Added new sponsors to the bill, including Senators Hinrichsen and Representatives Bacon, Joseph, Lieder, Mabrey, Paschal, Ricks, and Rutinel.

DEFINITION

Modified the definition of 'virtual currency' to explicitly exclude digital units used solely within online gaming platforms and certain consumer affinity or rewards programs that cannot be converted to fiat currency.

REQUIREMENT

Increased the maximum daily transaction limit for new customers at virtual currency kiosks from $1,000 to $2,000.

Increased the maximum daily transaction limit for existing customers at virtual currency kiosks from $1,000 to $10,500.

Added a requirement for kiosks to provide a printed receipt in addition to an electronic receipt for virtual currency transactions.

Engrossed (02/27/2025) → Reengrossed (02/28/2025) · 4 edits · Feb 28, 2025

MODERATE

The bill was reengrossed to include additional Senate sponsors (Kipp) and update the legislative status information. The substantive policy content regarding virtual currency kiosk disclosures remains unchanged in this version.

TECHNICAL

Added Kipp as a Senate sponsor alongside Rich and Roberts

Updated legislative status header from 'ENGROSSED' to 'REENGROSSED' to reflect House of Introduction amendments

Added date stamp 'February 28, 2025' and Senate designation

Removed blank lines and formatting artifacts from the original engrossed version

Introduced (01/23/2025) → Engrossed (02/27/2025) · 4 edits · Feb 28, 2025

MODERATE

The bill was amended to add a new definition for 'New Customer' and establish a seven-day transaction limit for first-time users of virtual currency kiosks. Existing customers are now exempt from this limit. The definition of 'Virtual Currency' was also modified to include a new exemption for rewards programs offered by federally insured institutions.

Scope change

The bill's scope was narrowed by adding a new eligibility criterion that distinguishes between new and existing customers, limiting the daily transaction cap only to new customers.

DEFINITION

Added a new definition for 'New Customer' to specify a customer transacting at a virtual currency kiosk for less than seven days.

Modified the definition of 'Virtual Currency' to add a new exemption for digital units used in consumer affinity or rewards programs offered through federally insured institutions.

REQUIREMENT

Added a seven-day transaction limit for new customers, after which they are considered existing customers and exempt from the limit.

Added a new disclosure statement warning that the technology can be used to defraud customers and listing specific scenarios where the machine may not be legitimate.

Colorado Vending of Digital Assets Act

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