HB 2387 Summary

• Cryptocurrency kiosk operators must disclose all relevant terms and conditions in clear, understandable language and obtain customer acknowledgment of receipt.

• Operators must provide two separate fraud warning disclosures that customers must accept before completing any transaction, covering common scams like frozen accounts, identity theft, and impersonation schemes.

• Upon transaction completion, operators must provide customers with a physical or digital receipt in their chosen language containing transaction details, operator contact information, law enforcement agency information, fees, exchange rates, and refund policy.

• New customers (transacting less than 10 days) are limited to $2,000 USD daily transactions, while existing customers are limited to $10,500 daily; operators must use blockchain analytics software to prevent transactions to wallets known to be affiliated with fraud.

• New customers defrauded by cryptocurrency kiosk transactions are eligible for full refunds including fees if they contact the operator and law enforcement within 30 days and provide documentation that fraud occurred; the Arizona Attorney General enforces this section.