AN ACT relating to trade and commerce; providing for the operation of virtual currency kiosks as specified; providing definitions; providing penalties; specifying applicability; requiring rulemaking; and providing for effective dates.
This act prohibits any person from owning, operating, or managing a virtual currency kiosk in Wyoming unless the person has been issued a license under the Wyoming Money Transmitters Act or is a financial institution and has been granted a charter under Title 13 of the Wyoming Statutes. This act creates a felony offense for operating a virtual currency kiosk without proper authorization, punishable by imprisonment for not less than three (3) years, a fine of not less than ten thousand dollars ($10,000.00), or both. This act requires the Wyoming State Banking Commissioner to promulgate rules regulating the operation of virtual currency kiosks by authorized persons.