SB 1083: Digital assets; digital asset kiosk; transactions; license requirement; permitting civil suits; requirements. Effective date. - Oklahoma

Floor (House) → Floor (Senate) · 4 edits

MODERATE

The bill was moved from the House to the Senate floor, where it was amended to clarify definitions and strengthen consumer protections for digital asset kiosks. The Senate version adds specific warnings about irreversible transactions and fraud risks, adjusts the 'new customer' definition period from 72 hours to 30 days, and updates the legal codification section numbers.

Scope change

The bill's scope remains focused on regulating digital asset kiosks in Oklahoma, but the Senate amendments expand consumer disclosure requirements and modify the timeframe for defining new customers.

DEFINITION

The definition of 'new customer' was changed from 72 hours to 30 days after the first financial transaction, giving customers a longer period to be classified as new.

REQUIREMENT

New mandatory disclosures were added requiring kiosks to prominently warn customers that digital asset transactions are irreversible and that losses from fraud or accidents are not recoverable.

Added specific language requiring digital asset kiosks to display warnings about common scams impersonating government agencies or loved ones to steal money.

TECHNICAL

The bill's codification section numbers were updated to reflect Senate floor amendments, changing references from Section 1520 to Section 1520.1 for certain provisions.

SB1083 (3-26-25) (WEAVER) FS FA1.PDF → Floor (House) · 3 edits

MINOR

The bill was converted from a Senate floor substitute version to a House floor version, primarily changing the document header, page numbering, and formatting. The substantive policy content regarding digital asset kiosk regulations remains consistent between versions.

TECHNICAL

Document title changed from 'FLOOR SUBSTITUTE' to 'COMMITTEE SUBSTITUTE FOR ENGROSSED SENATE BILL NO. 1083' to reflect the bill's progression through the legislative process.

Page numbering and formatting were updated to match House floor version standards, including new header information and page references.

The descriptive summary of the bill's provisions was added to the House version to provide a quick overview of the legislation's intent.

House Committee Substitute for Senate Bill → SB1083 (3-26-25) (WEAVER) FS FA1.PDF · 3 edits

MINOR

The bill was reclassified from a Committee Substitute to a Floor Substitute, indicating it has moved through committee review and is now ready for floor consideration. The substantive content of the bill remains largely unchanged, with only minor formatting adjustments and line number updates. The bill regulates digital asset kiosks, requiring licensing, disclosures, and reporting requirements for operators.

Scope change

No substantive change to the bill's scope or applicability; the change is procedural (Committee Substitute to Floor Substitute).

PROCEDURAL

Bill designation changed from 'Committee Substitute for Engrossed Senate Bill' to 'Floor Substitute', indicating procedural advancement in the legislative process.

TECHNICAL

Page numbering and formatting adjustments were made throughout the document, including updated requirement numbers (Req. No. 13633 to Req. No. 1965).

A bracketed section describing the bill's topics (digital assets, kiosks, licensure, disclosures, etc.) was added for informational purposes.

Proposed Committee Substitute (full committee) 1 → House Committee Substitute for Senate Bill · 3 edits

MINOR

The bill's title and header information were updated to reflect a House Committee Substitute version, and a new requirement was added mandating that digital asset kiosk operators provide at least 10 days notice to the Banking Department before activating or relocating a kiosk. A new subsection was also added to specify the required information for quarterly location reports.

Scope change

The bill's scope remains focused on regulating digital asset kiosks, but the applicability now includes a specific notice requirement for kiosk location changes.

TECHNICAL

Updated bill title from 'Proposed Oversight Committee Substitute' to 'Committee Substitute for Engrossed Senate Bill No. 1083' and changed the request number from 13506 to 13633.

REQUIREMENT

Added a new requirement (Subsection B) that digital asset kiosk operators must provide at least 10 days notice to the Banking Department before activating or relocating a kiosk, including specific information about the kiosk's location.

Added detailed specifications (Subsection C) for quarterly location reports, requiring operators to include the company's legal name and any fictitious or trade name.

Enrolled (final version) → Proposed Committee Substitute (full committee) 1 · 4 edits

MODERATE

The bill was amended from its enrolled final version to a proposed committee substitute version, primarily changing the legislative title, authorship attribution, and formatting while maintaining the core substantive provisions regarding digital asset kiosk regulation. The amendment replaces the enrolled Senate bill with a House committee substitute that includes updated header information and slightly modified language in the bill description.

Scope change

The substantive scope of the bill remains unchanged, but the version being considered has been modified by the House Oversight Committee to reflect committee amendments and formatting adjustments.

TECHNICAL

Header information was updated to reflect committee amendment status with new author attribution and date information.

The bill summary description was slightly modified to change 'providing penalties' to 'providing penalties for violation' and 'permitting civil suits' to 'permitting civil suits against digital asset kiosk operators'.

Formatting and page numbering were updated to reflect the proposed oversight committee substitute version.

REQUIREMENT

All substantive regulatory requirements including licensing, reporting, disclosure, and enforcement provisions remain identical to the enrolled version.

Engrossed → Enrolled (final version) · 6 edits · May 19, 2025

MODERATE

The bill transitioned from an Engrossed version to an Enrolled final version with substantive additions. The Enrolled version includes a comprehensive summary of the bill's purposes and adds new requirements for digital asset kiosk operators, including customer support obligations, fee limitations, and expanded rule-making authority for the Banking Department.

Scope change

The bill's scope was expanded to include additional operational requirements for digital asset kiosk operators, including live customer support during certain hours, fee limitations, and expanded rule-making authority for the Banking Department.

REQUIREMENT

Added requirement for live customer support during certain hours

Added limitations on fees and charges for digital asset kiosk transactions

Expanded rule-making authority to permit the Banking Department to promulgate additional rules

TECHNICAL

Added comprehensive summary of bill purposes and subject matter at the beginning of the Enrolled version

Added page number formatting and bill header information consistent with enrolled legislation

ENFORCEMENT

Added provisions permitting civil suits against digital asset kiosk operators for fraudulent transactions

Amended And Engrossed → Engrossed · 3 edits · May 15, 2025

MINOR

The bill was renumbered from a House amendment to a Senate bill and significantly reorganized its structure. The core policy content regarding digital asset kiosk regulations remains largely the same, but the formatting and section numbering were adjusted during the legislative process.

Scope change

The bill's scope and applicability remain unchanged; it still regulates digital asset kiosks in Oklahoma.

TECHNICAL

The bill was renumbered from 'Engrossed House Amendment' to 'Engrossed Senate Bill' with corresponding changes to author attribution and page numbering.

Section headers and numbering were reorganized, with definitions moving from Section 1 to a new Section 1, and substantive provisions shifting to Section 2.

A descriptive subject line was added at the top of the bill listing key topics: digital assets, kiosks, licensure, disclosures, receipts, transactions, customer services, rule promulgation, codification, and effective date.

Introduced → Amended And Engrossed · 5 edits · May 15, 2025

MODERATE

The bill was amended to strengthen enforcement by adding misdemeanor penalties and seizure authority for unlicensed digital asset kiosks, extended the 'new customer' protection period from 30 days to 72 hours, changed kiosk approval from prior Banking Department approval to a 10-day notice requirement, and added civil suit provisions for fraudulently induced customers.

Scope change

The bill's enforcement scope expanded to include specific criminal penalties and civil remedies, while operational requirements were modified to allow kiosks to be placed with advance notice rather than prior approval.

ENFORCEMENT

Added misdemeanor penalties with fines up to $2,000 and up to one year imprisonment for unlicensed kiosk operations, plus seizure authority for the Attorney General.

Added authority for the Attorney General to promulgate rules to enforce the new subsection.

REQUIREMENT

Changed kiosk location approval from requiring prior Banking Department approval to requiring only 10 days advance notice.

Added civil suit provisions allowing customers defrauded by unlicensed kiosks to sue operators for losses.

DEFINITION

Extended the 'new customer' protection period from 30 days to 72 hours after first transaction.

Digital assets; digital asset kiosk; transactions; license requirement; permitting civil suits; requirements. Effective date.

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