ID S1359

Requires virtual currency kiosk operators to hold a money transmitter license and submit quarterly and annual reports to the Idaho Department of Finance, including transaction data, complaint records, and compliance officer contact information

Imposes transaction limits for new customers: maximum $2,000 per 24-hour period and $10,000 cumulative limit during the first 30 days, with a mandatory 72-hour settlement delay on first transactions

Mandates prominent fraud warnings on kiosks advising users to stop transactions if contacted by someone claiming to be a government agent, family member, or law enforcement, and requires disclosure of transaction fees, exchange rates, and material risks

Requires operators to provide live customer service 7 days a week from 8 a.m. to 8 p.m., use blockchain analytics software to detect fraudulent wallet addresses, and issue full refunds of transaction fees to fraud victims within 10 business days

Violations constitute unfair and deceptive practices under Idaho consumer protection law, subject to attorney general enforcement, private civil actions, license revocation, and misdemeanor penalties up to $1,000 for willful violations; effective July 1, 2026