NJ S4288

Requires virtual currency kiosk operators to obtain a money transmitter license from the Department of Banking and Insurance, with unlicensed operators required to apply within 60 days of the act's effective date

Mandates comprehensive consumer disclosures before transactions, including warnings that virtual currency is not legal tender, not FDIC-insured, transactions may be irreversible, and values can fluctuate significantly

Requires kiosks to display fraud warnings asking customers if they were directed to make payments by phone for social security, utility bills, warrants, or bail money, and to confirm they control the receiving wallet

Obligates operators to use blockchain analytics software to prevent transfers to wallets known for fraudulent activity, maintain written anti-fraud and Enhanced Due Diligence policies, and provide live customer service via toll-free number Monday-Friday 8am-10pm EST

Requires operators to employ full-time compliance officers and consumer protection officers, submit quarterly reports on kiosk locations, and provide transaction receipts with fee, exchange rate, and refund policy information