The Colorado Vending of Digital Assets Act, introduced as SB25-079 in the 2025 Regular Session, establishes regulations for virtual currency kiosks in Colorado. Key provisions include:
Customer Disclosures: Operators must provide specific disclosures to customers using virtual currency kiosks.
Transaction Receipts: Each customer must receive both printed and electronic receipts detailing their virtual currency transactions.
Refund Policy: If a customer's first virtual currency transaction is to a wallet or exchange outside the U.S. and is later determined by law enforcement to be fraudulent, the operator must fully refund the transaction.
Transaction Limit: A daily transaction limit of $1,000 is set for each customer.
Definitions: "Virtual currency" is defined as a digital unit used as a medium of exchange or stored value. "Virtual currency kiosk" refers to an electronic terminal facilitating the exchange of virtual currency for other currencies.
This legislation aims to enhance consumer protection and regulate virtual currency transactions within the state.
Summary
The bill enacts the Colorado Vending of Digital Assets Act,
which requires an owner or operator of a virtual currency kiosk to:
•
Provide certain disclosures to customers of the virtual currency kiosk;
•
Provide each customer with a printed and an electronic receipt detailing the customer's virtual currency transaction; and
•
Fully refund a customer's first virtual currency transaction if the virtual currency transaction is to a virtual currency wallet or exchange located outside of the United States and is determined by law enforcement to be fraudulent.
The bill establishes a daily transaction limit of $1,000 for a
customer of a virtual currency kiosk.
The bill defines virtual currency as a type of digital unit that is
used as a medium of exchange or a form of digitally stored value or that is incorporated into payment system technology. Virtual currency kiosk is defined as an electronic terminal acting as a mechanical agent of the owner or operator to enable the owner or operator to facilitate the exchange of virtual currency for other virtual currency or fiat currency.
