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SENATE BILL NO. 980
A bill to prohibit the installation and operation of
cryptocurrency kiosks; to provide for the powers and duties of
certain state and local governmental officers and entities; and to
prescribe civil sanctions.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. This act may be cited as the "cryptocurrency kiosk 1
fraud prevention act". 2
Sec. 3. As used in this act: 3
(a) "Cryptocurrency" means digital currency in which 4
encryption techniques are used to regulate the generation of units 5
May 19, 2026, Introduced by Senators IRWIN, SHINK, POLEHANKI, KLINEFELT, GEISS and
CHANG and referred to Committee on Finance, Insurance, and Consumer Protection.
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of currency and verify the transfer of funds, and that operates 1
independently of a central bank. 2
(b) "Cryptocurrency kiosk" means an electronic terminal that 3
enables a cryptocurrency kiosk operator to facilitate the purchase, 4
sale, or exchange of fiat currency for cryptocurrency or of 5
cryptocurrency for fiat currency. Cryptocurrency kiosk includes, 6
but is not limited to, an electronic terminal that does either of 7
the following: 8
(i) Connects directly to a separate cryptocurrency exchange 9
that performs the cryptocurrency transmission. 10
(ii) Draws on cryptocurrency that is in the possession of the 11
operator of the electronic terminal. 12
(c) "Cryptocurrency kiosk operator" means a person that owns 13
or operates a cryptocurrency kiosk. 14
(d) "Fiat currency" means a medium of exchange that is 15
authorized or adopted by the United States government as part of 16
its currency and is not backed by a commodity. 17
(e) "Person" means an individual or a partnership, 18
corporation, limited liability company, association, governmental 19
entity, or other legal entity. 20
Sec. 5. A person shall not do any of the following: 21
(a) Install or operate a cryptocurrency kiosk. 22
(b) Allow a cryptocurrency kiosk to be installed or operated 23
on any premises that the person owns, leases, or controls. 24
Sec. 7. A person that violates section 5 is responsible for a 25
state civil infraction and may be ordered to pay a civil fine as 26
follows: 27
(a) For a first violation, not less than $2,000.00 and not 28
more than $5,000.00. 29
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(b) For a second or subsequent violation, not less than 1
$5,000.00 and not more than $10,000.00. 2