What This Bill Does
This bill would amend the Bank Secrecy Act to require digital asset kiosk operators to register and follow anti-money-laundering and anti-fraud rules. In practical terms, it targets cryptocurrency ATMs and similar kiosks that let people buy or sell digital assets with cash or cards. The measure would place compliance obligations on kiosk operators and give regulators clearer tools to monitor suspicious activity. Its goal is to reduce scams, money laundering, and other illicit uses of these machines.
- Requires digital asset kiosk operators to register under the Bank Secrecy Act.
- Adds anti-money-laundering and anti-fraud compliance duties for kiosk operators.
- Targets kiosks used to buy or sell digital assets, including crypto ATMs.
- Aims to curb scams and suspicious transactions involving cash-to-crypto machines.
Who This Bill Affects
If you use a cryptocurrency kiosk, this bill would likely mean more verification steps, stronger fraud warnings, and possibly slower or more closely monitored transactions. If you are a victim of crypto-related scams, the added registration and anti-fraud requirements could make it harder for criminals to use kiosks to move stolen money. For most people who never use these machines, the direct effect would be minimal.
See how this bill affects you — sign in for a personalized analysisWho Supports & Opposes This
- Consumer protection advocates They argue that crypto kiosks have become a common tool for scams, especially against older adults and first-time users. Registration and compliance rules would make operators more accountable and give victims a better chance of stopping fraudulent transfers.
- Law enforcement and financial crime investigators They see kiosk oversight as a practical way to trace suspicious cash-to-crypto activity and disrupt money laundering. Clear registration requirements can help identify operators, preserve records, and improve cooperation with investigations.
- Banks and regulated financial institutions They often support extending anti-money-laundering standards to newer payment channels so criminals cannot simply shift activity to less regulated venues. That can reduce regulatory arbitrage and strengthen the overall financial system.
- Digital asset kiosk operators They may argue that new registration and compliance rules will raise operating costs and make it harder to serve customers quickly. Smaller operators could find the added paperwork and monitoring requirements especially burdensome.
- Cryptocurrency users who value privacy They may worry that more identity checks and transaction monitoring will reduce the anonymity and convenience that attract people to kiosks. Some users may see the rules as treating ordinary crypto purchases like suspicious activity.
- Small business owners in the kiosk industry They could contend that broad anti-fraud obligations may be difficult to implement consistently across many locations. If compliance becomes expensive, some kiosks may close or pass costs on to customers.
Key Implications
-
““require the registration of digital asset kiosk operators””
Operators would have to come into a formal federal compliance system rather than functioning as loosely monitored cash-to-crypto businesses. That makes it easier for regulators to know who is running the machines and to enforce rules when problems arise.
-
““comply with anti-money laundering and anti-fraud requirements””
Kiosk businesses would need procedures to detect suspicious activity and reduce scam-driven transactions. In practice, that can mean more identity checks, monitoring, and recordkeeping for customers and operators alike.
-
““amend the Bank Secrecy Act””
The bill would place digital asset kiosks within an existing anti-crime framework used for financial institutions. That signals a move to treat these machines more like regulated money-transmission services than like ordinary retail devices.
-
““for other purposes””
This phrase often allows related technical or enforcement provisions to be added as the bill moves through committee. It can broaden the scope of implementation details without changing the bill’s core focus on kiosk oversight.
Latest Status
June 11, 2026
Referred to the House Committee on Financial Services.
Related Bills
Take Action
Get more from BillBoard
Free tools to understand, respond to, and track this bill.
Ask AI about this billData sourced from api.congress.gov.