MA S804

Creates new Chapter 169C requiring virtual currency kiosk operators (Bitcoin ATMs and similar machines) in Massachusetts to obtain money transmitter licenses and register with the Division of Banks through NMLS within 60 days of enactment

Mandates customer disclosures warning that virtual currency is not legal tender, not FDIC-insured, may be volatile, and transactions may be irreversible; also requires fraud warning notices asking customers if they were directed by someone claiming to be from their bank, police, or government agency

Requires operators to use blockchain analytics software to prevent transactions to wallets associated with fraudulent activity and to maintain written anti-fraud and Enhanced Due Diligence policies identifying at-risk individuals based on age or mental capacity

Obligates operators to employ full-time compliance officers and consumer protection officers (neither can own more than 20% of the company) and provide live customer service Monday-Friday 8AM-10PM

Requires quarterly location reports to the Commissioner listing physical addresses and operation dates of all kiosks, plus transaction receipts showing fees, exchange rates, and refund policies