An Act relative to preventing fraud and establishing regulations on certain virtual currencies

HD 935 requires virtual currency kiosk operators in Massachusetts to obtain a money transmitter license and register locations with the Commissioner of Banks before operating. Operators must submit quarterly location reports and provide clear, mandatory disclosures to customers, including prominent warnings about irreversible transactions, lack of government backing, scam risks (with specific examples like impersonation scams), and volatility. The bill also sets a $1,000 daily transaction limit per customer and mandates disclosure of fees, exchange rates, and policy changes. This directly affects businesses operating physical kiosks for buying/selling virtual currency in Massachusetts.