Crypto kiosk consumer protection bill becomes law
The law creates statewide rules for virtual currency kiosks, including fraud screens, transaction holds, customer service requirements and oversight by the Commissioner of Banks.
RALEIGH — A bill creating statewide consumer protection rules for virtual currency kiosks is now North Carolina law.
House Bill 920, titled the “Virtual Currency Kiosk Consumer Protection Act,” became Session Law 2026-45 on July 8 after Gov. Josh Stein signed it July 7, according to the North Carolina General Assembly. The bill was presented to the governor July 6 after being ratified July 2.
The law affects virtual currency kiosks, commonly associated with cryptocurrency transactions, and places new requirements on operators. The bill page lists the affected statutes in Chapter 53, which covers banking and financial institutions. Its keywords include banking, consumer protection, financial services, privacy, taxation, Commissioner of Banks and cryptocurrency.
A legislative summary says the measure creates a new Article 26 in Chapter 53, titled “The Virtual Kiosk Consumer Protection Act.” It requires operators to provide disclosures on risks, fees, exchange rates, spreads, refund policies and customer liability before transactions are completed.
The bill also requires an interactive fraud-screen process and prohibits customers from bypassing or accelerating that screen. It restricts scan-based access, such as QR code login mechanisms, except where identity verification is required by law and approved by the Commissioner of Banks.
Under the final version summarized by legislative staff, operators must provide live customer service at all times their kiosks are available for public use. The law also sets daily transaction limits of $2,000 for new virtual currency customers and $7,500 for existing customers.
The act establishes a mandatory 48-hour hold on transactions initiated by customers whose first transaction occurred within the previous seven days. It also directs the Commissioner of Banks to adopt a procedure by Dec. 1, 2026, for determining when a transaction is fraudulent.
The House concurred in the Senate changes July 1 by a 115-0 vote. The Senate had approved the bill on second reading June 30 by a 49-0 vote.
Editor’s note: This article was drafted with the assistance of artificial intelligence and was reviewed and fact-checked by a member of the NC Political News editorial team before publication.
