Consumer protection: other; cryptocurrency exchange kiosk regulation act; create. Creates new act. TIE BAR WITH: HB 6223'26

1. **ONE-SENTENCE SUMMARY:** This bill establishes regulations for cryptocurrency exchange kiosks in Michigan to enhance consumer protection. 2. **KEY REQUIREMENTS:** - Register cryptocurrency exchange kiosks with the state. - Implement security measures to protect consumer data and funds. - Provide clear information about fees, risks, and terms of service at the kiosk. - Ensure compliance with anti-money laundering and fraud prevention regulations. 3. **DEADLINES:** - Effective date: TBD (to be determined upon passage). - Compliance deadlines will be specified in the final version of the bill. 4. **PENALTIES:** - Non-compliance may result in fines and potential suspension of kiosk operations. - Enforcement will be handled by state regulatory authorities. 5. **SMB IMPACT:** Small businesses operating cryptocurrency kiosks will need to invest in registration and compliance measures, which may increase operational costs but also enhance consumer trust and safety.