Transcript Highlights:

• In 2025, so far, we've had at least 11 reports of fraud involving cryptocurrency kiosks.
• I've investigated dozens and dozens of cases involving cryptocurrency and also cryptocurrency kiosks.
• Bitcoin Depot is the largest operator of cryptocurrency kiosks in the world.
• Cryptocurrency ATMs, also known as crypto kiosks or virtual currency kiosks, look like bank ATMs and
• Cryptocurrency ATMs, also known as crypto kiosks or virtual currency kiosks, look like bank ATMs and

Committee: Joint Joint Committee on Financial Services

Summary: The committee heard testimony on several financial services bills, with the main focus on cryptocurrency kiosk regulation, financial literacy, and earned wage access. Legislators and witnesses described widespread crypto-related scams targeting older adults, often involving impersonation, urgency, spoofed phone numbers, and rapid transfers through kiosks that are difficult to trace or recover. Supporters of the kiosk bills said Massachusetts needs licensing, registration, transaction limits, warning notices, receipts, refund protections, and other safeguards; some also urged a “pause” or hold on transactions to give victims time to reconsider and allow law enforcement to intervene. The Attorney General’s office, AARP, local law enforcement, and several prosecutors and sheriffs backed the consumer-protection approach, while Bitcoin Depot supported a narrower regulatory framework but opposed low fee caps and strict daily limits, arguing they would function like a ban and reduce legitimate use. Witnesses from Waltham police, Middlesex and Essex County law enforcement, and the AG’s office said crypto scams are growing quickly, losses are often unrecoverable once funds move, and current tools are limited. They described cases involving elderly victims losing thousands of dollars, and said warnings alone are not enough because scammers keep victims on the phone and guide them through the process. Some witnesses said a temporary hold or refund mechanism has worked in at least one case, while others emphasized that transaction limits and visible disclosures could reduce harm even if they do not stop fraud entirely. The AG’s office also said it would submit written opposition to separate earned wage advance legislation, while DailyPay testified in support of that bill, saying earned wage access helps workers bridge short-term gaps without debt or credit reporting. The committee also heard support for mandatory financial literacy education from Representative Jim Hawkins, who said high school students need instruction on credit, debt, and inflation before they enter adulthood. In addition, the committee took testimony on litigation financing bills from insurance industry representatives, who argued for disclosure and regulation of predatory litigation lending and warned about foreign interference and reduced plaintiff recoveries. No votes or final actions were taken during the hearing; members asked questions throughout, and the chair noted the need to move testimony along because of time constraints.

Transcript Highlights:

• </c><00:38:19.280><c> kiosk</c> to call them, the cryptocurrency kiosk to call them, the cryptocurrency
• c> uh</c> the cryptocurrency uh kiosk operators uh the cryptocurrency uh kiosk operators uh there's<00
• </c> scams was at a cryptocurrency kiosk. scams was at a cryptocurrency kiosk. over<00:55:42.880><c>
• </c><00:56:20.240><c> kiosk</c> press related to cryptocurrency kiosk press related to cryptocurrency
• </c><00:57:44.079><c> on</c> cryptocurrency kiosk, so it depends on cryptocurrency kiosk, so it depends

Summary: The committee held an informational briefing on fraud in the community, with presenters from ARP, CoinFlip, HPD, the Hawaii Bankers Association, DCCA’s Office of Consumer Protection, and the Department of Law Enforcement. The chair described widespread scams targeting kupuna and other residents, including impersonation of grandchildren, lottery/inheritance schemes, romance scams, online shopping fraud, investment scams, and tech-support scams. Members emphasized the emotional manipulation used by scammers, the difficulty of getting victims to report losses, and the need to educate the public on warning signs and available resources. ARP said scams are an epidemic and highlighted national data showing major losses among older adults, including $4.8 billion lost by people age 60 and over in 2024. ARP focused especially on cryptocurrency kiosks as a growing scam channel in Hawaii, citing 64 complaints totaling $922,000 in 2024 and noting that complaints nearly doubled from the prior year. ARP urged stronger safeguards such as limits on transactions, refunds, live customer support, and a law-enforcement contact for operators, and said its Fraud Watch Network can help victims freeze credit, identify next steps, and track current scams. The chair said he intends to introduce legislation to lower and ultimately eliminate the amount of Bitcoin that can be purchased through ATMs. CoinFlip said it supports consumer-protection regulation and described its compliance practices, including scam warning screens, anti-money-laundering controls, blockchain analytics, wallet pinning, transaction monitoring, and cooperation with law enforcement. The company said it is registered as a money services business, files suspicious activity and currency transaction reports, and holds money transmitter licenses in many jurisdictions. It also pointed to Illinois-style refund protections for new users and said it refunds fees to scam victims, though not the underlying funds. In response to committee questions, members and the company discussed whether crypto kiosks are necessary, how scams can be traced, and whether banks and kiosks can better intervene when suspicious activity is detected.

Transcript Highlights:

• Some of you may not be all that familiar with cryptocurrency kiosks.
• By using kiosks, cash withdrawn from a bank by a victim is fed into a kiosk, then converted to cryptocurrency
• </c> local crypto cryptocurrency kiosks. local crypto cryptocurrency kiosks.
• 55.600><c> easy</c><00:23:56.559><c> and</c> Cryptocurrency kiosks remain an easy and Cryptocurrency
• </c> kind of processed via cryptocurrency kind of processed via cryptocurrency kiosks. kiosks. kiosks

Bills: HF3642 , HF2700 , HF3615

Committee: House Commerce Finance and Policy

Transcript Highlights:

• You travel to one of these cryptocurrency kiosks.
• to</c> cryptocurrency kiosks in Minnesota to cryptocurrency kiosks in Minnesota to protect<00:37:12.480
• for banning kiosks and ATMs for cryptocurrency?
• cryptocurrency cryptocurrency kiosks kiosks kiosks as<01:32:37.120><c> the</c><01:32:37.360><c> Democrats
• </c> using these cryptocurrency kiosks. using these cryptocurrency kiosks.

Transcript Highlights:

• </c> these uh digital asset or cryptocurrency these uh digital asset or cryptocurrency exchanges.<00:
• standup kiosk somewhere else?
• Larson. protected more using a kiosk or protected more using a kiosk or something<00:22:52.320><c> at
• </c> actual standup kiosk somewhere else? actual standup kiosk somewhere else?
• </c> or cryptocurrency would be cold storage. or cryptocurrency would be cold storage.

Transcript Highlights:

• Are they, what are they regulating these cryptocurrency, these cryptocurrency?
• What are they regulating these cryptocurrency kiosks under?
• Isn't it also true on the kiosks?
• seeing in whole or part being facilitated by these cryptocurrency kiosks.
• And see kiosks.

Summary: The committee heard public testimony on several insurance and consumer protection bills. On engrossed substitute Senate Bill 5928, staff and the Office of the Insurance Commissioner described wildfire risk score and model disclosure requirements for homeowners, including notices when policies are nonrenewed, canceled, or premiums are adversely affected, plus insurer website disclosures about mitigation discounts and rate filing transparency. Supporters, including the OIC, AARP, the mayor of Medical Lake, and a fire chief, said the bill would improve transparency, help homeowners understand and reduce wildfire risk, and protect consumers facing cancellations and rising premiums. Industry witnesses said they supported the goal but warned the bill could add regulatory cost and complexity, and some urged narrower, simpler disclosure language and a delayed implementation date. On engrossed substitute Senate Bill 6031, which would expand the insurance fraud program and create a standalone Class B felony for insurance fraud, the OIC and AARP supported the bill as a tool against organized fraud and restitution for victims. A criminal defense representative raised concerns that the new felony language overlaps with existing misdemeanor insurance fraud law and could create conflicting statutes and harsher penalties for the same conduct. The committee also heard testimony that the bill had already incorporated amendments limiting criminal investigators’ role in regulatory investigations and focusing them on complex schemes. The committee then heard substitute Senate Bill 6248 on travel insurance, described as largely mirroring a House bill already passed by the committee. Testimony from the travel insurance industry said agreed-upon amendments had been incorporated, including changes addressing conflict-of-interest concerns, and urged the bill’s advancement. Finally, the committee heard substitute Senate Bill 6079, which would create the Strengthen Washington Homes grant program to fund wildfire home-hardening and prohibit insurers from using wildfire risk as a disqualifying factor for homes meeting IBHS wildfire-prepared standards. The OIC, fire commissioners, AARP, and the prime sponsor supported the bill as a way to reduce nonrenewals and improve insurability, while insurers opposed Section 7, arguing it could interfere with underwriting and should be removed if the bill is to remain a grant program. The committee also began hearing engrossed Senate Bill 5280 on virtual currency kiosks, with staff and the Department of Financial Institutions describing daily transaction caps, fee limits, disclosures, and receipts to curb fraud; consumer protection and law enforcement witnesses supported the bill, while industry witnesses raised concerns about burdens on compliant businesses and passive retail hosts.

Transcript Highlights:

• The Senate's third proposal of amendment would extend the moratorium on new cryptocurrency kiosks until
• <00:10:22.880><c> kiosks</c><00:10:23.920><c> until</c><00:10:24.720><c> 2027</c> cryptocurrency kiosks
• until 2027 cryptocurrency kiosks until 2027 based<00:10:26.560><c> on</c><00:10:26.800><c> continuing
• The essential problem with the crypto kiosk model of cryptocurrency purchase is that it is too easy to
• kiosks uh for cryptocurrency ability for kiosks uh for cryptocurrency to<00:25:39.039><c> operate</c

Transcript Highlights:

• The FTC and FBI have been sounding the alarm about cryptocurrency kiosks.
• Cryptocurrency kiosks are increasingly used by criminals to defraud consumers.
• Cryptocurrency kiosks are increasingly used by criminals to defraud consumers, particularly older adults
• In Delaware, there are more than 161 cryptocurrency kiosks, and these machines are unfortunately quite
• Digital Mint, a cryptocurrency company that used to operate crypto kiosks, voluntarily exited the industry

Bills: HB373

Committee: Senate Banking, Business, Insurance & Technology

Summary: The Senate Banking, Business, Insurance & Technology Committee met in hybrid format and heard testimony on several bills. HB 373, as amended, would regulate hemp-derived THC-infused beverages by defining the products, limiting them to 10 mg of Delta-9 THC per container, restricting sales to package stores and licensed marijuana retail stores, requiring testing and labeling, and imposing a 50-cent per container tax; the sponsor said the bill is intended to create guardrails and protect youth, and a wholesaler representative testified in support. HB 398 would allow racinos to serve alcohol until 2 a.m. and remove local authority to require earlier closing times; the sponsor and Bally’s representative said it would help Delaware remain competitive and increase revenue, and no opposition was heard. HB 433 would let municipalities and counties extend last call for bars, restaurants, and clubs from 1 a.m. to 2 a.m.; a witness from Connect Delaware supported it as a competitiveness and retention measure, emphasizing that it is permissive rather than mandatory. The committee also heard extensive testimony on HB 441, which would ban cryptocurrency kiosks/crypto ATMs in Delaware and require existing machines to be removed within 90 days. The sponsor and supporters, including AARP, the Delaware Department of Justice, and the League of Women Voters, argued the machines are heavily used in scams, especially against older adults, and that regulation has not been effective. CoinFlip opposed the bill, saying it is a regulated operator, that the fraud statistics are overstated or incomplete, and that Delaware should instead adopt a regulatory framework and amendment. HB 465 would update the criminal code to formally define virtual currency and incorporate it into theft, money laundering, racketeering, and search-and-seizure provisions; the sponsor said it would align Delaware law with modern crypto-related crimes, and no opposition was presented. The committee then heard HB 467, which would prevent landlords from requiring renters to buy insurance from a specific company while still allowing them to require coverage meeting lease terms; the sponsor described it as a consumer-choice bill and there was no public opposition. HB 435 would require payment parity for certified registered nurse anesthetists and physicians when the same services are provided; the sponsor, nurse anesthetists, the Delaware Health Care Association, the Department of Insurance, and ChristianaCare supported it as a workforce and access-to-care measure, with no opposition. Finally, HS 1 for HB 450, the Road DE Act, would overhaul permitting and traffic-impact review, emphasize peak-hour traffic, set density standards in growth areas, create a transportation impact fee, and direct some revenue to open space, farmland, and coastal restoration; realtors, builders, environmental groups, engineers, and GEAR supported it as a way to speed permitting, reduce sprawl, and improve infrastructure planning. The committee adjourned after public comment; no votes were recorded in the transcript.

Transcript Highlights:

• Are they, what are they regulating these cryptocurrency, these cryptocurrency?
• What are they regulating these cryptocurrency kiosks under?
• Isn't it also true on the kiosks?
• seeing in whole or part being facilitated by these cryptocurrency kiosks.
• And see kiosks.

Bills: SB6178 , SB5831

Committee: House Consumer Protection & Business

Keywords: SB6178, property insurance, insurance claims, assignment of benefits, AOB, post-loss assignment, post-loss benefits, homeowners insurance, policyholder, insured, restoration contractor, mitigation contractor, public adjuster, insurance commissioner, claims handling, consumer protection, void and unenforceable, Washington insurance code, chapter 48 RCW, civil penalty

Bills: HB259 , SB247 , HB259 , SB247

Committee: House Financial Services

Keywords: income tax credit, tax incentive, recruitment, remote work, remote worker, recruited worker, rural counties, small counties, county population tiers, opportunity zone, teacher recruitment, nurse recruitment, law enforcement recruitment, workforce development, economic development, relocation incentive, Alabama Department of Revenue, nonrefundable tax credit, tax carryforward, state income tax

Transcript Highlights:

• I'm going to preface this by saying that I consider cryptocurrency and kiosks to be two separate issues
• This is because most of the victims are unfamiliar with cryptocurrency and the use of a CVC kiosk.
• I can tell you with my family member, when I found out that they went to a cryptocurrency kiosk, I was
• When I found out that my family member went to a cryptocurrency kiosk, I was shocked.
• I know that was a lot on cryptocurrency kiosks, and most of my handout is focused on cryptocurrency kiosks

Committee: House Criminal Jurisprudence

Transcript Highlights:

• They passed an ordinance banning these cryptocurrency kiosks in their city.
• To be clear, this bill is looking to prohibit the cryptocurrency kiosks.
• Finally, banning cryptocurrency kiosks Finally, banning cryptocurrency kiosks will<00:59:57.280><c>
• </c><01:00:38.720><c> kiosks,</c><01:00:39.280><c> the</c> because cryptocurrency kiosks, the because
• Even with existing cryptocurrency kiosk.

Committee: Senate Commerce and Consumer Protection

Transcript Highlights:

• Coinflip respectfully opposes House Bill 1642, which would ban cryptocurrency kiosks in Hawaii.
• Kiosks provide a safe and regulated way for residents to access cryptocurrency using cash, which remains
• kiosks.
• Imposing this refund obligation solely on kiosk operators ignores the $9 billion total cryptocurrency
• Imposing this refund obligation solely on kiosk operators ignores the $9 billion total cryptocurrency

Bills: HB2227 , HB1775 , HB1560 , HB1642 , HB1647 , HB2003 , HB1640 , HB2198

Committee: House Consumer Protection & Commerce

Summary: The committee on Consumer Protection and Commerce met on February 5, 2026, and heard testimony on several bills, beginning with HB 227 relating to eviction records. Supporters, including the Public First Law Center and the Office of Hawaiian Affairs, argued the bill would help people who prevail in eviction cases avoid long-term housing harm from online court records, while the Public First Law Center said keeping records off eCourt Kokua would not violate the First Amendment because the records would still be available in person. Members discussed access-to-justice concerns, and a witness said legal aid attorneys could still access the records through the attorney-only Jeff’s system and the court’s access-to-justice room. The chair also asked about precedent, and a witness cited a Hawaii Supreme Court case as supporting removal from the online database rather than sealing records entirely. The committee then took up HP 1775 relating to foreclosures, but the transcript only shows in-person opposition comments from the Hawaii State Bar Association Collection Law Section, the Hawaii Credit Union League, and the Hawaii Bankers Association. The credit union and banking groups said they had concerns about broader negative impacts on mortgage lending and other requirements, but no detailed discussion or action was captured before the committee moved on. The next measure, HB 1560 relating to consumer protection, drew support from the Office of Consumer Protection and cryptocurrency companies including Coinflip and America Digital, which said they already use wallet-pinning and other safeguards to prevent fraud. AARP Hawaii did not take a formal position but said the bill addressed a real problem, noting that Hawaii residents, especially in Kona, had lost more than $920,000 in 2024 to cryptocurrency ATM scams and arguing that stronger oversight was needed. The committee also heard HB 1642, which would ban cryptocurrency kiosks. The Office of Consumer Protection supported the ban as the best way to protect consumers from fraud, while Coinflip, Bitcoin Depot, and America Digital opposed it, arguing kiosks provide cash-based access to crypto, especially for unbanked or underbanked consumers, and that targeted regulation would be better than an outright ban. AARP Hawaii took no formal position but strongly emphasized the harm caused by scams, saying victims are often frightened into acting quickly and that kiosk transactions currently lack enough friction or intervention. Finally, HB 1647, also on consumer protection, would impose liability on host businesses that provide space for crypto kiosks. The Office of Consumer Protection warned small businesses might not understand the liability, while Coinflip, Bitcoin Depot, and America Digital opposed the bill, saying it would unfairly shift enforcement duties to host stores and could discourage businesses from hosting kiosks, effectively creating a de facto ban. No votes or final committee actions were taken in the portion of the meeting provided.

Transcript Highlights:

• Cryptocurrency ATMs, or virtual currency kiosks, are probably something you've seen occasionally in different
• We are the largest operator of cryptocurrency kiosks in the country, and I first let me apologize...
• We are the largest operator of cryptocurrency kiosks in the country, and let me apologize to you.
• kiosks.
• kiosk company.

Committee: Joint Law Enforcement and Criminal Justice Interim Committee

Transcript Highlights:

• kiosks.
• kiosks.
• You can also buy cryptocurrency on a crypto kiosk.
• Below that shows you how people are using the cryptocurrency kiosks, which is a little different.
• "You know, when I initially was listening to the cryptocurrency or reading up on the cryptocurrency kiosk

Summary: The committee first held a work session on cryptocurrency kiosks, with the Department of Financial Institutions and Spokane City Council describing how virtual currency kiosks operate, where they are located in Washington, and the rapid growth in transaction volume. DFI said the machines are being used heavily in scams, especially against older and vulnerable consumers, and cited FBI fraud data showing substantial losses. DFI outlined possible consumer protections in pending legislation, including stronger disclosures, a $1,000 daily transaction limit, and a fee cap. Spokane City Council described its unanimous ordinance banning new kiosks and requiring removal of existing ones, citing local scam reports and the difficulty of recovering funds once they are sent through crypto wallets. Committee members asked about how the machines are used, whether the hardware itself is vulnerable, and whether stronger warnings or screening requirements could help. The committee then reviewed home equity sharing agreements, or CHISAs/HESAs, following a legislative report. The report’s author said these products provide homeowners a lump sum in exchange for a share of future home value or appreciation, with no monthly payments, but can be difficult for consumers to understand and can produce highly variable settlement costs. The report found the market has grown quickly in Washington, that many consumers using the products had financial hardship, and that many did not fully understand how settlement amounts were calculated. DFI said it views the products as mortgage-like and is moving forward with rulemaking, including counseling and clearer disclosures. Industry representatives said the products are equity-based rather than debt-based, support access to home equity for people who may not qualify for traditional loans, and said they are working with DFI on standardized disclosures, counseling, and annual settlement estimates. Senators raised concerns about consumer understanding, cost caps, and whether the products should be treated as mortgages under state law. In the final work session, the committee heard an overview of Washington’s space economy from Amazon Leo, Blue Origin, Stoke Space, Space Northwest, and Green River College. Speakers highlighted major investments in Washington facilities, manufacturing, testing, and workforce training, and described the state as a hub for aerospace and satellite activity. They emphasized job creation, supply-chain spending, and education partnerships, including technician certification and apprenticeship-style programs. Several speakers urged the legislature to expand tax incentives to include space companies, support grants and workforce programs, and consider a state space commission or similar long-term coordination effort. The committee thanked the presenters and noted time constraints before ending the hearing.

Transcript Highlights:

• kiosks.
• kiosks.
• You can also buy cryptocurrency on a crypto kiosk.
• Below that shows you how people are using the cryptocurrency kiosks, which is a little different.
• Kiosks. So I will go to the next slide.

Summary: The committee first heard a work session on cryptocurrency kiosks from the Department of Financial Institutions and Spokane City Councilmember Paul Dillon. DFI described crypto kiosks as licensed money transmission terminals that allow cash purchases of virtual currency, and said the main concern is fraud: scammers often pressure victims, especially older adults, to deposit cash into kiosks and send it to wallets controlled by organized crime. DFI cited a sharp increase in kiosk volume, nationwide fraud complaints and losses, and said Washington currently has licensing and disclosure rules but lacks transaction and fee limits. The department said it is seeking stronger disclosures, a $1,000 daily transaction limit, and a fee cap. Spokane described its unanimous ordinance banning new kiosks and removing existing ones after local scam reports, and members asked about how the machines work, whether the fraud is in the hardware or the transaction, and whether stronger warnings or screening could help. The committee then reviewed home equity sharing agreements, or CHISAs, based on a report by Mariana Amaram and testimony from DFI and industry representatives. The report found that CHISAs provide homeowners a lump sum in exchange for a share of future home value or appreciation, with no monthly payments, but that consumers often struggle to understand the products and settlement calculations. The report said the market has grown quickly in Washington, that costs can be hard to predict, and that early uncapped contracts could produce very high settlement amounts, especially during periods of rising home prices. DFI said it views these products as mortgage loans and is moving forward with rulemaking, including counseling and clearer disclosures, while industry witnesses said the products are equity-based rather than debt-based and asked for tailored regulation. Members discussed the need for better consumer education, clearer payoff schedules, and whether the products should be treated as mortgages or a separate category. The final panel focused on Washington’s space economy, with presentations from Amazon Leo, Blue Origin, Stoke Space, Space Northwest, and Green River College. Speakers highlighted major in-state investments in satellite manufacturing, launch systems, and workforce training, including Amazon Leo’s Redmond and Kirkland facilities, Blue Origin’s Kent headquarters, and Stoke Space’s Kent manufacturing and Moses Lake test site. Space Northwest presented data showing the sector’s growing economic footprint, high-wage jobs, and regional clusters in Kent and Redmond, and urged more workforce programs, incentives, infrastructure support, and a state space commission. The companies emphasized local hiring, apprenticeship and certification programs, and the role of Washington’s aerospace supply chain in supporting the broader space industry. No votes were taken during the transcript excerpt.

Transcript Highlights:

• Bitcoin, cryptocurrency kiosk, and the Genius Act.
• The point is this: cryptocurrency kiosks can be operated responsibly.
• And I'm here primarily to talk about the prevalence of the cryptocurrency kiosks.
• Tell me the valid reasons we should have cryptocurrency kiosks in the state of Texas.
• Could you purchase cryptocurrency without these kiosks? Yes, definitely.

Committee: Senate Business & Commerce

Transcript Highlights:

• Next, we'll take up tab 1, Senate Bill 198 on virtual currency kiosk by Senator Rousan.
• Senate Bill 198 on virtual currency kiosk by Senator Rousan.
• kiosks in the United States.
• A customer is able to buy cryptocurrency with cash.
• I'm really trying to enhance my knowledge on this whole cryptocurrency thing.

Summary: The Senate Committee on Banking and Insurance met with a quorum present and took up a full agenda of bills, beginning with SB 1286 by Sen. Wright. That bill expanded the state recruitment bonus program to include newly employed firefighters, created a DFS grant review panel, and established a PTSD institute within DFS for first-responder behavioral health. Fire chiefs, the Florida League of Cities, and others supported the measure, and the committee reported it favorably. The committee then considered SB 198 on virtual currency kiosks by Sen. Rousan. A substitute amendment was adopted that clarified daily transaction limits, registration requirements, expiration rules, and OFR authority to deny registrations. Testimony focused on protecting seniors from crypto-ATM scams while giving the industry regulatory certainty. The committee also favorably reported CS/SB 198. Members next approved CS/SB 772, which allows portable electronics limited licensees to sell eyewear insurance, and CS/SB 1504, which updates insurance customer representative licensing pathways by allowing a high school insurance and personal finance course to count toward pre-licensure education. The committee also favorably reported Sen. Gruters’ CS/SB 1038 and CS/SB 1040, which together create the Florida Strategic Cryptocurrency Reserve and its trust fund framework, and CS/SB 1440, which expands public records exemptions and cybersecurity-related protections for financial institutions, loan originators, money service businesses, and credit unions. Sen. Burton’s SB 1668 on the NICA program drew extensive testimony from a NICA board member and family advocate, who urged stronger funding to preserve lifelong care for catastrophically injured children; the bill was reported favorably despite concerns from the Florida Justice Association about benefit restrictions and retroactivity. Finally, the committee approved CS/SB 570, creating a DFS task force on payment scams, after an amendment reduced FDLE’s required representation. At the end of the meeting, Sen. Burton requested to be recorded in the affirmative on SB 1286, and Sen. Passidomo requested affirmative votes on tabs 3, 5, and 9; the committee then adjourned.

Transcript Highlights:

• Next, we'll take up tab 1, Senate Bill 198 on virtual currency kiosk by Senator Rousan.
• kiosks in the United States.
• A customer is able to buy cryptocurrency with cash.
• I'm really trying to enhance my knowledge on this whole cryptocurrency thing.
• I'm going to create the trust fund for the Florida Strategic Cryptocurrency Reserve.

Bills: S0198 , S0570 , S0772 , S0808 , S1038 , S1040 , S1286 , S1440 , S1504 , S1668

Committee: Senate Banking and Insurance

Summary: The Committee on Banking and Insurance met with a quorum present and took up a series of bills, beginning with SB 1286 by Senator Wright. That bill expands the law enforcement recruitment bonus program to include firefighters, creates a DFS grant review panel for fire-related grants, and establishes an institute for PTSD and first-responder behavioral health. Testimony from fire chiefs and others supported the measure, and the committee reported it favorably. The committee then considered several insurance and financial regulation bills. CS/SB 198 by Senator Rousan, as amended, regulates virtual currency kiosks with transaction limits, notice and receipt requirements, and OFR enforcement authority; witnesses described it as a needed anti-fraud measure, especially for seniors, and it was reported favorably. CS/SB 772 by Senator Burgess, as amended, allows limited licenses for portable electronics and eyewear insurance, and CS/SB 1504 by Senator Claudio, as amended, creates a pathway for high school students to qualify for insurance customer representative licensure; both were reported favorably. The committee also approved two cryptocurrency reserve bills by Senator Gruters: CS/SB 1038 creates the Florida Strategic Cryptocurrency Reserve framework, and CS/SB 1040 creates the related trust fund; both received technical amendments and favorable reports. CS/SB 1440 by Senator Martin, as amended, creates public records exemptions and cybersecurity reporting provisions for financial institutions and related entities, and it was reported favorably. Finally, SB 1668 by Senator Burton, which updates the NICA program’s funding and benefit structure, and CS/SB 570 by Senator Polsky, which creates a task force on payment scams, were both heard with supportive testimony and reported favorably. Senators later recorded additional affirmative votes on selected bills before the committee adjourned.

Transcript Highlights:

• </c><00:21:00.559><c> machine,</c> to deposit cash into a kiosk machine, to deposit cash into a kiosk
• </c><00:21:13.440><c> kiosk</c> like Herald, of cryptocurrency kiosk like Herald, of cryptocurrency kiosk
• </c> Bitcoin depot kiosk Bitcoin depot kiosk was<00:22:57.600><c> fraud</c> was fraud was fraud and<00
• kiosk company.
• </c><00:35:17.760><c> I'm</c> cryptocurrency kiosk company. I'm cryptocurrency kiosk company.

Committee: House Banking & Insurance