WA HB1268

Virtual currency transaction kiosk operators must obtain money transmitter licenses and are subject to penalties for unlicensed operation; licensees ceasing operations must surrender their license within 15 days and identify where records will be stored

Kiosk operators must display on-screen disclosures warning that virtual currencies are not government-insured, transactions are irreversible, prices are volatile, and scammers frequently use cryptocurrency; a separate bold warning about unrecoverable losses must be acknowledged by users

Operators must maintain detailed wind-down plans, provide 30 days' notice before termination to both the director and customers, and return all customer funds before surrendering their license

Compliance requirements include full know-your-customer protocols, third-party blockchain analysis to block high-risk wallets, live telephone customer support during operating hours, and employment of a full-time chief compliance officer who owns no more than 20% of the business

Operators must maintain tangible net worth of $10,000 per $1,000,000 in transaction volume (minimum $10,000, maximum $3,000,000) and provide transaction receipts including customer name, exchange rate, fees, and full transaction hash; effective date is January 1, 2026