A bill for an act relating to digital financial asset transaction kiosks.
This bill regulates digital financial asset transaction kiosks in Iowa, directly affecting kiosk operators and consumers using these machines to exchange cash for digital assets like cryptocurrency. It limits daily transactions to $1,000 per consumer and caps fees at either $5 or 15% of the transaction value, whichever is higher. Operators must provide clear written disclosures before transactions - including fees and a finality warning - and issue detailed receipts showing all charges, asset amounts, and the licensed exchange used. Additionally, operators must report all kiosk locations to the banking division for public online access and ensure any third-party operators using their kiosks hold proper money transmission licenses.
Bill status
in committee
1 of 4 stages cleared
Introduction
Feb 2025
Committee Review
Floor Vote
Governor
Introduced Feb 18, 2025
Last action Feb 25, 2025
Floor votes
How they voted
No floor votes recorded yet.
Full legislative history
Actions timeline
Total actions
5
Key actions
4
Committee
4
Feb 25, 2025
Legislature · Passed
Committee report approving bill, renumbered as SF 449.
legislature
Feb 19, 2025
Legislature · Passed
Subcommittee recommends passage.
legislature
Feb 18, 2025
Legislature · Passed
Subcommittee Meeting: 02/19/2025 1:00PM Room 315.
legislature
Feb 18, 2025
Legislature · Passed
Subcommittee: McClintock, Bennett, and Sires.
legislature
Feb 18, 2025
Introduced
Introduced, referred to Technology.
legislature
0 primary · 0 co-sponsors
Sponsors
No sponsor information available.
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