Consumer protection: other; cryptocurrency exchange kiosk regulation act; create. Creates new act. TIE BAR WITH: HB 6223'26

This Michigan bill establishes the Cryptocurrency Exchange Kiosk Regulation Act to oversee physical terminals where users can swap government currency for digital assets. It directly affects businesses operating these kiosks by mandating that they be located in secure, staffed areas and restricting daily transactions to a maximum of $500 per user. The legislation also requires new users to wait at least 24 hours before completing a transaction, mandates clear warnings about fraud risks and transaction irreversibility, and requires operators to provide detailed receipts and maintain transaction records. To enforce these rules, the state attorney general is empowered to investigate violations and impose civil fines of up to $10,000 for single infractions or $25,000 for repeated offenses. Finally, the bill will only take effect if a companion bill, HB 6223, is also enacted into law.