Providing for regulation and reporting requirements for qualifying virtual currency kiosk operators

Summary

This Massachusetts bill establishes new regulation and reporting requirements for operators of virtual currency kiosks, which are machines that allow users to buy and sell cryptocurrencies. The legislation requires qualifying kiosk operators to comply with financial services regulations and maintain reporting standards to be overseen by the appropriate state financial regulatory agencies. These requirements are designed to bring virtual currency kiosk operations under the state's financial services regulatory framework.