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IA SSB3086
SB
Status
1/27/2026
Primary Sponsor
Technology
Click for details
AI Summary
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Violations of Iowa's digital financial asset transaction kiosk regulations (Section 533C.1004) are reclassified as unlawful practices under the state's consumer fraud statute (Section 714.16)
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Attorney General gains authority to seek civil penalties up to $40,000 per violation for digital asset kiosk operators found engaging in unlawful practices
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Civil penalties up to $100,000 can be imposed for violations of injunctions issued against digital asset kiosk operators, exceeding the standard penalty limits in consumer fraud cases
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Courts may impose additional penalties of up to $5,000 per day for intentional violations of temporary restraining orders or injunctions related to these violations
Legislative Description
A bill for an act relating to consumer fraud and unlawful practices, including digital financial asset transaction kiosks, and providing civil penalties.(See SF 2296.)
Last Action
Committee report approving bill, renumbered as SF 2296.
2/11/2026