AR HB1467

Establishes comprehensive regulations for virtual currency kiosks, including transaction limits of $2,000 daily for new customers and $7,500 for existing customers, plus caps on fees at $5 or 18% of the transaction amount

Requires virtual currency kiosk operators to provide detailed risk disclosures, fraud warnings, and transaction receipts in English and other applicable languages, with mandatory phone verification for elder adults (60+) before their first transaction

Creates new customer protections allowing new customers to cancel fraudulent transactions within 72 hours of registration and receive full refunds if reported to law enforcement within 14 days

Mandates comprehensive information security programs for money services businesses with 5,000+ consumer records, including encryption requirements, multi-factor authentication, annual penetration testing, and 45-day breach notification to the Securities Commissioner

Updates surety bond requirements to range from $100,000 to $500,000 based on daily money transmission liability, with bonds remaining in place for 5 years after a licensee ceases operations