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RI H7955
Bill
Status
2/27/2026
Primary Sponsor
Julie Casimiro
Click for details
AI Summary
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Expands the definition of "virtual currency kiosk operator" to include not only owners but also non-owners, those providing custodial or non-custodial services, and any person or business that facilitates virtual currency purchases through digital products or applications requiring in-person payment.
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Broadens "virtual currency kiosk transaction" to cover transactions conducted through digital products or applications where customers remit payment in person, including through clerks or other intermediaries.
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Amends Rhode Island General Laws Chapter 19-14.3 (Currency Transmissions) to close regulatory gaps around alternative virtual currency purchase methods beyond traditional kiosk machines.
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Takes effect immediately upon passage.
Legislative Description
Expands the definition of operator to anyone who enables customers to purchase virtual currency. Expands the definition of a transaction to include a digital product or application where payment is made in person or through a third party intermediary.
Financial Institutions
Last Action
Committee recommended measure be held for further study
3/5/2026