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EXPLANATION: CAPITALS INDICATE MATTER ADDED TO EXISTING LAW.
[Brackets] indicate matter deleted from existing law.
Underlining indicates amendments to bill.
Strike out indicates matter stricken from the bill by amendment or deleted from the law by
amendment.
*sb0741*
SENATE BILL 741
I1 6lr2185
By: Senators Beidle and Hettleman
Introduced and read first time: February 6, 2026
Assigned to: Finance
Committee Report: Favorable
Senate action: Adopted
Read second time: February 25, 2026
CHAPTER ______
AN ACT concerning 1
Financial Institutions and Activities – Virtual Currency Kiosks – Alterations 2
FOR the purpose of altering the definition of “virtual currency kiosk operator” to include a 3
person who installs or operates certain software that enables a certain device to 4
provide certain virtual currency services; altering the definition of “virtual currency 5
services” to exclude the accepting or dispensing of cash in connection with a credit, 6
deposit, or convenience account ; clarifying that a virtual currency kiosk operator 7
shall ensure the kiosk does not offer the same services as an automated teller 8
machine; and generally relating to the regulation of virtual currency kiosks. 9
BY repealing and reenacting, without amendments, 10
Article – Financial Institutions 11
Section 1–401(a) and (d) and 12–1201(a) 12
Annotated Code of Maryland 13
(2020 Replacement Volume and 2025 Supplement) 14
BY repealing and reenacting, with amendments, 15
Article – Financial Institutions 16
Section 12–1201(e), (f), and (g) and 12–1207 17
Annotated Code of Maryland 18
(2020 Replacement Volume and 2025 Supplement) 19
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 20
That the Laws of Maryland read as follows: 21
2 SENATE BILL 741
Article – Financial Institutions 1
1–401. 2
(a) In this subtitle the following words have the meanings indicated. 3
(d) (1) “Automated teller machine” means any electronic information 4
processing device located in this State which accepts or dispenses cash in connection with 5
a credit, deposit, or convenience account. 6
(2) “Automated teller machine” does not include devices used: 7
(i) Solely to facilitate check guarantees or check authorizations; 8
(ii) In connection with the acceptance or dispensing of cash on a 9
person–to–person basis, including by a store cashier; or 10
(iii) For the payment of goods or services. 11
12–1201. 12
(a) In this subtitle the following words have the meanings indicated. 13
(e) [(1)] “Virtual currency kiosk” means a stand –alone automated platform 14
through which a consumer may deposit or receive cash or use a credit or debit card to obtain 15
virtual currency services. 16
[(2) “Virtual currency kiosk” does not include an automated teller machine, 17
as defined in § 1–401(d) of this article.] 18
(f) “Virtual currency kiosk operator” or “operator” means [a]: 19
(1) A person who owns or operates a virtual currency kiosk in the State ; 20
OR 21
(2) A PERSON WHO INSTALLS OR OPERATES SOFTWARE THAT 22
ENABLES A STAND –ALONE AUTOMATED DEVICE TO PRO VIDE VIRTUAL CURRENCY 23
SERVICES IN THE STATE. 24
(g) (1) “Virtual currency service” means: 25
(i) The conversion of a virtual currency to another form of virtual 26
currency; or 27
(ii) The purchase, sale, exchange, swap, or transfer of virtual 28
currency by any means. 29
SENATE BILL 741 3
(2) “Virtual currency service” includes any other activity that the 1
Commissioner identifies as a virtual currency service by regulation. 2
(3) “Virtual currency service” does not include [money]: 3
(I) MONEY transmission, as defined in § 12–401(p) of this title; OR 4
(II) ACCEPTING OR DISPENSING CASH IN CONNECTIO N WITH A 5
CREDIT, DEPOSIT, OR CONVENIENCE ACCOUNT. 6
12–1207. 7
A virtual currency kiosk operator shall ensure that the virtual currency kiosk: 8
(1) Operates solely for the purpose of virtual currency services; and 9
(2) Does not operate OR PROVIDE THE SAME SERVICES as an automated 10
teller machine as defined under § 1–401 of this article. 11
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect 12
October 1, 2026. 13
Approved:
________________________________________________________________________________
Governor.
________________________________________________________________________________
President of the Senate.
________________________________________________________________________________
Speaker of the House of Delegates.