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STATE OF OKLAHOMA
2nd Session of the 60th Legislature (2026)
SENATE BILL 2025 By: Deevers
AS INTRODUCED
An Act relating to digital asset kiosks; creating the
Virtual Currency Kiosk Consumer Access and Protection
Act; providing short title; defining terms; requiring
certain operators to hold certain licenses to operate
in this state; requiring certain submission to the
Banking Department; establishing certain report
requirements; requiring certain interface to display
certain information; requiring certain fraud warning
to be displayed during certain time of transaction;
requiring certain fraud warning to include certain
information; requiring display of certain telephone
number; requiring provision of certain receipt after
certain transaction; requiring certain transaction
limits for certain customers; requiring certain
records to be maintained by certain operator;
requiring certain records to be preserved for a
certain period of time; requiring certain operator to
cooperate with certain investigations; construing
provisions; allowing Banking Department to promulgate
rules; allowing the Department to conduct certain
investigations and examinations of certain operators;
providing for certain fees; providing for certain
penalties; establishing certain remedies and
penalties to be cumulative; allowing certain operator
to challenge certain final order in a certain manner;
providing for codification; and providing an
effective date.
BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1521 of Title 6, unless there is
created a duplication in numbering, reads as follows:
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This act shall be known and may be cited as the “Virtual
Currency Kiosk Consumer Access and Protection Act”.
SECTION 2. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1521.1 of Title 6, unless there
is created a duplication in numbering, reads as follows:
As used in this act:
1. “Customer” means an individual who uses a digital asset
kiosk to conduct a transaction involving digital assets;
2. “Digital asset” means virtual currencies, cryptocurrencies,
including stablecoins, fungible tokens, non-fungible tokens, and
other digital-only assets that confer economic, proprietary, or
access rights or powers;
3. “Digital asset kiosk” means an electronic terminal that
enables a consumer to exchange fiat currency for digital assets, or
digital assets for fiat currency. Digital asset kiosk includes, but
is not limited to, a machine that either connects to an external
digital asset exchange to execute the transaction or dispenses
digital assets from the kiosk operator’s own holdings;
4. “Digital asset kiosk operator” means a person or entity
authorized to do business in this state that owns or operators one
or more digital asset kiosks in this state;
5. “Fiat currency” means government-issued currency that is
designated as legal tender in the United States and is not backed by
a physical commodity;
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6. “Money transmission license” means a license issued in this
state to engage in the business of money transmission;
7. “New customer” means a customer during the period of five
(5) calendar days following the date of that customer’s first
transaction with a digital asset kiosk operator; and
8. “Virtual business license” means a license, registration, or
other authorization issued under the laws of this state to engage in
digital asset or virtual currency business activity.
SECTION 3. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1521.2 of Title 6, unless there
is created a duplication in numbering, reads as follows:
A. No digital asset kiosk operator shall operate any digital
asset kiosk in this state unless the operator:
1. Holds a valid money transmission license; or
2. Holds a valid virtual business license.
B. A digital asset kiosk operator shall submit to the Banking
Department an annual report listing all digital asset kiosk
locations operated in this state. The report shall include:
1. The name of the business or establishment where each digital
asset kiosk is located;
2. The physical address of the location where each digital
asset kiosk is located;
3. The date on which each digital asset kiosk began operation;
and
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4. The date on which each digital asset kiosk ceased operation,
if applicable.
C. Each digital asset kiosk operation shall ensure that each
kiosk’s user interface prominently displays the following
information to the customer before the customer commits to a
transaction:
1. All fees or charges the customer will incur for the
transaction;
2. The applicable exchange rate or price used to convert
between fiat currency and the digital asset, if applicable;
3. A notice that transactions in digital assets are irrevocable
and cannot be refunded once executed; and
4. A notice that digital assets and transactions conducted
through the digital asset kiosk are not insured or guaranteed by the
Federal Deposit Insurance Corporation or the Securities Investor
Protection Corporation.
D. Each digital asset kiosk operator shall ensure that a fraud
warning is displayed on the kiosk interface before a customer may
complete any transaction. The fraud warning shall:
1. Describe common scam tactics involving digital asset kiosks
and shall advise the customer not to proceed with the transaction if
he or she is being instructed or pressured by a third party or if he
or she suspects fraud;
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2. State that no government agency or official will ever
request payment using a digital asset kiosk; and
3. Direct customers who suspect fraud to contact the phone
number displayed on the kiosk pursuant to subsection E of this
section.
E. Each digital asset kiosk shall display a valid telephone
number that customers can call for assistance or to report issues.
Such telephone number shall connect either to the digital asset
kiosk operator’s customer service center or to a designated local
law enforcement nonemergency line. The telephone number shall be
posted prominently on the kiosk or its electronic display so that
customers can easily see it before and during a transaction.
F. Upon completion of any transaction at a digital asset kiosk,
the digital asset kiosk operator shall provide the customer with a
receipt in either printed or electronic form. Each receipt shall
include:
1. The date and time of the transaction;
2. The type and amount of digital asset transacted and, if
applicable, the corresponding amount of fiat currency exchanged;
3. The fees charged for the transaction;
4. The exchange rate applied; and
5. The name of the digital asset kiosk operator and the
operator’s customer service contact information.
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G. Each digital asset kiosk operator shall implement
transaction limits for new customers. New customers shall not be
permitted to conduct transactions totaling more than Three Thousand
Dollars ($3,000.00) per calendar day through a digital asset kiosk.
SECTION 4. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1521.3 of Title 6, unless there
is created a duplication in numbering, reads as follows:
A. Each digital asset kiosk operator shall maintain complete
and accurate records of all digital asset kiosk transactions and
related customer information as required under applicable state and
federal law. The records shall be preserved, at minimum, for the
period of time required by the Banking Department’s regulations or
other applicable law.
B. A digital asset kiosk operator shall cooperate with law
enforcement authorities in the investigation and prevention of fraud
and other unlawful activities. Such cooperation shall include, but
is not limited to:
1. Promptly complying with lawful subpoenas, court orders, and
other official requests for records or information relating to
digital asset kiosks or customers;
2. Respond in good faith to lawful requests from the Banking
Department or law enforcement relating to fraud involving a digital
asset kiosk; and
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3. Designate a point of contact within the digital asset kiosk
operator’s organization for communication with the Department and
law enforcement regarding fraud-related matters.
C. No provision of this section shall be construed to require a
digital asset kiosk operator to monitor or block transactions in
real time except as required by applicable law.
SECTION 5. NEW LAW A new section of law to be codified
in the Oklahoma Statutes as Section 1521.4 of Title 6, unless there
is created a duplication in numbering, reads as follows:
A. The Banking Department may promulgate any rules necessary
for the enforcement of this act. The Department may conduct
investigations and examinations of digital asset kiosk operators as
reasonably necessary to ensure compliance with this act and any
rules adopted pursuant to this act. In conducting such
investigations, the Department may:
1. Require a digital asset kiosk operator to submit reports or
documentation relevant to its digital asset kiosk business and
compliance with this act;
2. Inspect the books, records, and digital asset kiosks of the
operator during normal business hours; and
3. Take testimony or issue subpoenas to compel the appearance
of witnesses and the production of documents.
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B. If the Department determines that a digital asset kiosk
operator has violated this act or any rule or order issued pursuant
to this act, the Department may:
1. Issue an order requiring the operator to cease and desist
the violation and to take corrective action as necessary to comply
with this act;
2. Impose an administrative fine or penalty. Each violation,
or each day that a violation continues, may be treated as a separate
violation. The maximum penalty for each violation shall be One
Thousand Dollars ($1,000.00); and
3. Suspend or revoke the digital asset kiosk operator’s license
or virtual business license, or suspend or prohibit such operator
from operating any digital asset kiosks in this state.
C. The remedies and penalties provided in this section shall be
cumulative and shall not limit enforcement under other applicable
laws of this state.
D. Nothing in this act shall be construed to limit the rights
of any person to pursue civil remedies against a digital asset kiosk
operator or to restrict the authority of the Attorney General or
other authorized officials of this state to bring civil or criminal
proceedings under applicable law.
E. A digital asset kiosk operator may challenge any final order
or enforcement action taken by the Department pursuant to this act
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by filing an appeal in a court of competent jurisdiction in
accordance with applicable state law.
SECTION 6. This act shall become effective November 1, 2026.
60-2-3445 CAD 1/15/2026 10:29:13 AM