Title 19
Financial Institutions

Chapter 14.3
Currency Transmissions

§ 19-14.3-3.10. Disclosures.

A virtual currency kiosk operator shall disclose in a clear, conspicuous, and easily readable manner in a chosen language made available to and preferred by the customer, all relevant terms and conditions generally associated with the products, services, and activities of the virtual currency kiosk operator and virtual currency.

(1) The virtual currency kiosk operator shall provide an acknowledgement of receipt of all disclosures required under this section to be acknowledged by the customer as confirmation of consent.

(2) The disclosures under this subsection shall include, at a minimum, the following provisions:

(i) A warning, written prominently and in bold type, and provided separately from the disclosures below, stating: “WARNING: LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS ARE NOT RECOVERABLE AND TRANSACTIONS IN VIRTUAL CURRENCY ARE IRREVERSIBLE. VIRTUAL CURRENCY TRANSACTIONS MAY BE USED TO STEAL YOUR MONEY BY CRIMINALS IMPERSONATING THE GOVERNMENT, ORGANIZATIONS, OR YOUR LOVED ONES. WRONGDOERS OFTEN THREATEN JAIL TIME, SAY YOUR IDENTITY HAS BEEN STOLEN, ALLEGE YOUR COMPUTER HAS BEEN HACKED, INSIST YOU WITHDRAW MONEY FROM YOUR BANK ACCOUNT TO PURCHASE VIRTUAL CURRENCY, OR UTILIZE A NUMBER OF OTHER ILLEGAL MEANS TO SCAM YOU. IF YOU BELIEVE YOU ARE BEING SCAMMED, CALL YOUR LOCAL LAW ENFORCEMENT.”;

(ii) A written statement disclosing the material risks associated with virtual currency and virtual currency transactions, including:

(A) A warning that once completed, the transaction may not be reversed;

(B) A disclosure relating to the virtual currency kiosk operator’s liability for unauthorized virtual currency transactions;

(C) A disclosure relating to the virtual currency kiosk customer’s liability for unauthorized currency transactions;

(D) A statement that virtual currency is not legal tender, backed or insured by the government, and accounts and value balances are not subject to Federal Deposit Insurance Corporation, National Credit Union Administration, or Securities Investor Protection Corporation protections;

(E) A statement that some virtual currency transactions are deemed to be made when recorded on a public ledger which may not be the date or time when the person initiates the transaction;

(F) A statement that virtual currency value may be derived from market participants’ continued willingness to exchange fiat currency for virtual currency, which may result in the permanent and total loss of a particular virtual currency’s value if the market for virtual currency disappears;

(G) A statement that a person who accepts virtual currency as payment today is not required to accept and might not accept virtual currency in the future;

(H) A statement that the volatility and unpredictability of the price of virtual currency relative to fiat currency may result in a significant loss over a short period of time;

(I) A statement that the nature of virtual currency means that any technological difficulties experienced by virtual currency kiosk operators may prevent access to or use of a person’s virtual currency; and

(J) A disclosure that any bond maintained by the virtual currency kiosk operator for the benefit of a person may not cover all losses a person incurs;

(iii) A statement disclosing the amount of the transaction denominated in U.S. Dollars as well as the applicable virtual currency;

(iv) A disclosure of any fees or expenses charged by the virtual currency kiosk operator;

(v) A disclosure of any applicable exchange rates;

(vi) Notice of a change in the virtual currency kiosk operator’s rules or policies;

(vii) The name, address, and telephone number of the owner of the kiosk and the days, times and means by which a consumer can contact the owner for consumer assistance shall be displayed on or at the location of the kiosk, or on the first screen of such kiosk;

(viii) A disclosure of the circumstances under which the virtual currency kiosk operator, without a court or government order, discloses a person’s account information to third parties; and

(ix) Other disclosures that are customarily given in connection with a virtual currency transaction.

(3) Transaction receipt. Effective November 1, 2025, upon each transaction’s completion, the virtual currency kiosk operator shall provide a person with a physical receipt in a chosen language made available to and preferred by the customer which shall contain the following information:

(i) The virtual currency kiosk operator’s name and contact information, including a telephone number to answer questions and register complaints;

(ii) The type, value, date, and precise time of the transaction, transaction hash, and each applicable virtual currency address;

(iii) The name and contact information of the sender;

(iv) The name and contact information of the designated recipient;

(v) All fees charged;

(vi) The exchange rate of the virtual currency to U.S. Dollars;

(vii) A statement of the virtual currency kiosk operator’s liability for non-delivery or delayed delivery;

(viii) A statement of the virtual currency kiosk operator’s refund policy; and

(ix) Any additional information or formatting the department of business regulation may require.