HF 3642 Minnesota House · 2025-2026 Regular Session

Virtual currency kiosks prohibited, and customer payouts provided.

HF 3642 prohibits the placement or operation of virtual currency kiosks in Minnesota, directly affecting businesses that provide physical kiosks for exchanging virtual currency (like Bitcoin) for cash or vice versa. The bill's key provision bans these kiosks outright, replacing prior regulations that had defined terms like "new customer" and set transaction limits. It repeals all existing statutes (53B.69 to 53B.75) that previously governed virtual currency kiosk operations, removing the legal framework that allowed such kiosks to function under specific conditions. As a result, no virtual currency kiosks may legally operate within the state under this law.

Issues: ✗ Technology

Bill status died 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 23, 2026 Last action Apr 22, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduction → 1st Engrossment · 5 edits · Mar 23, 2026

MODERATE

The bill was amended from an introduction to its first engrossment, significantly expanding its scope from a single prohibition on virtual currency kiosks to a comprehensive regulatory framework. The new version adds specific definitions for kiosks and operators, establishes a ban on installing or operating these kiosks starting August 1, 2026, and mandates that operators pay out customer funds by December 31, 2026. It also includes an exception for operators who maintain other lawful means for customers to access their funds and repeals several previous sections of the virtual currency law.

Scope change

The bill's scope expanded from a narrow prohibition on virtual currency kiosks to a broader set of requirements including customer payout obligations, specific definitions, and exceptions for operators with alternative access methods.

REQUIREMENT

Added a requirement for virtual currency kiosk operators to pay out customer funds (money or virtual currency) by December 31, 2026, if the operator does not provide other lawful means for customers to access their funds.

DEFINITION

Added a new definition for 'virtual currency kiosk' as an electronic terminal or person acting on behalf of an operator to facilitate exchanges of virtual currency for money or other currency.

TIMELINE

Established a ban on installing, operating, or maintaining virtual currency kiosks effective August 1, 2026, and a deadline for removing existing kiosks by December 31, 2026.

REPEALER

Modified the repealer section to remove specific subdivisions of Minnesota Statutes 53B.69 and 53B.75 that were previously repealed, while adding new repeals for sections related to the new payout requirements.

EXCEPTIONS

Added an exception stating that operators are not required to make payouts if they maintain other lawful means for customers to access, transfer, or redeem their funds.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 9, 2026

Committee

Referred to Chief Clerk for comparison with SF3868

lower

Mar 23, 2026

Lower · Passed

Committee report, to adopt as amended

lower

Feb 23, 2026

Introduced

Introduction and first reading, referred to Commerce Finance and Policy

lower

1 primary · 13 co-sponsors