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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9268 Introduced in House (IH)]
<DOC>
119th CONGRESS
2d Session
H. R. 9268
To amend the Bank Secrecy Act to require the registration of digital
asset kiosk operators and to require such operators to comply with
anti-money laundering and anti-fraud requirements, and for other
purposes.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
June 11, 2026
Mr. Casten (for himself and Ms. Salazar) introduced the following bill;
which was referred to the Committee on Financial Services
_______________________________________________________________________
A BILL
To amend the Bank Secrecy Act to require the registration of digital
asset kiosk operators and to require such operators to comply with
anti-money laundering and anti-fraud requirements, and for other
purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Stop Crypto ATM Scams Act''.
SEC. 2. REGISTRATION OF DIGITAL ASSET KIOSK OPERATORS.
(a) In General.--Section 5330 of title 31, United States Code, is
amended--
(1) in subsection (d)--
(A) in paragraph (1)(A), by inserting ``, any
digital asset kiosk operator,'' after ``similar
instruments''; and
(B) by adding at the end the following:
``(3) Digital asset kiosk terms.--The terms `digital asset
kiosk' and `digital asset kiosk operator' have the meaning
given those terms, respectively, under section 5337(a).''; and
(2) by adding at the end the following:
``(f) Registration of Digital Asset Kiosk Locations.--
``(1) In general.--The Secretary of the Treasury shall
require a digital asset kiosk operator--
``(A) before beginning to operate a digital asset
kiosk, to submit a list containing the physical address
of each digital asset kiosk owned or operated by the
digital asset kiosk operator; and
``(B) not less than once every 90 days thereafter,
to submit an update to such list.
``(2) Form and manner of registration.--Each submission by
a digital asset kiosk operator pursuant to paragraph (1) shall
include--
``(A) the legal name of the digital asset kiosk
operator;
``(B) the physical address of each digital asset
kiosk owned or operated by the digital asset kiosk
operator that is located in the United States or the
territories of the United States;
``(C) up-to-date contact information for the
digital asset kiosk operator's compliance officer
described in section 5318(h)(1)(B);
``(D) the start date of operation of each digital
asset kiosk; and
``(E) the end date of operation of each digital
asset kiosk, if applicable.
``(3) False and incomplete information.--The filing of
false or materially incomplete information in a submission
required under paragraph (1) shall be deemed a failure to
comply with the requirements of this subsection.
``(4) Public availability.--The Secretary of the Treasury
shall make all information submitted under this subsection
available to the public, including on a website of the
Department of the Treasury.''.
(b) Rule of Application for Existing Digital Asset Kiosk
Operators.--A person who is a digital asset kiosk operator (as defined
in section 5337(a) of title 31, United States Code) on the date of
enactment of this Act--
(1) shall, not later than the end of the 6-month period
beginning on the date of enactment of this Act, submit the
initial list described in such section 5330(f)(1)(A); and
(2) shall, not later than 90 days after the end of the 6-
month period beginning on the date of enactment of this Act,
submit the first update of such list.
SEC. 3. ANTI-MONEY LAUNDERING AND ANTI-FRAUD REQUIREMENTS FOR DIGITAL
ASSET KIOSK OPERATORS.
(a) In General.--Subchapter II of chapter 53 of title 31, United
States Code, is amended by adding at the end the following:
``Sec. 5337. Anti-money laundering and anti-fraud requirements for
digital asset kiosk operators
``(a) Definitions.--In this section:
``(1) Charge.--The term `charge' means--
``(A) fees or expenses paid by a customer; and
``(B) the difference between the market price of a
digital asset and the price of the digital asset
charged to the customer.
``(2) Digital asset.--The term `digital asset' means any
digital representation of value that is issued or transferred
using a cryptographically secured distributed ledger,
blockchain technology, or any other similar technology.
``(3) Digital asset kiosk.--The term `digital asset kiosk'
means--
``(A) an automated teller machine that facilitates
the buying, selling, or exchange of digital assets for
fiat currency or other digital assets; or
``(B) a digital or mobile application that
facilitates the buying, selling, or exchange of fiat
currency for digital assets at a participating physical
location in an organized merchant network.
``(4) Digital asset kiosk operator.--The term `digital
asset kiosk operator' means a person that owns or operates a
digital asset kiosk.
``(5) Digital asset wallet.--The term `digital asset
wallet' means a software application or other mechanism that
provides a means for holding, storing, and transferring digital
assets.
``(6) Digital asset wallet address.--The term `digital
asset wallet address' means an alphanumeric identifier that is
associated with a digital asset wallet and represents a
potential destination for a digital asset transfer.
``(7) Extended business hours.--The term `extended business
hours' means--
``(A) the hours between 8:00 a.m. and 8:00 p.m.
local time on business days; and
``(B) the hours between 9:00 a.m. and 5:00 p.m.
local time on weekends and holidays.
``(8) Market price.--The term `market price' means, with
respect to a digital asset, the current market price of a
particular digital asset publicly quoted on a digital asset
trading platform that is registered with the Department of the
Treasury for a particular time.
``(9) New customer.--With respect to a digital asset kiosk
operator, a person is a `new customer' of the digital asset
kiosk operator if--
``(A) the person has never previously transacted
with the digital asset kiosk operator; or
``(B) less than 14 days have elapsed since the
person entered into their first transaction with the
digital asset kiosk operator.
``(b) Anti-Money Laundering Program.--
``(1) In general.--A digital asset kiosk operator shall--
``(A) develop, implement, and routinely update an
anti-money laundering program described in section
5318(h), and file a copy of such program with the
Financial Crimes Enforcement Network;
``(B) be subject to the requirement to report
suspicious transactions described in section 5318(g);
and
``(C) be subject to the requirements described
under this subchapter to file currency transaction
reports.
``(2) Risk-based requirements.--Not later than 180 days
after the date of enactment of this section, the Secretary of
the Treasury shall issue rules to require a digital asset kiosk
operator, in implementing an anti-money laundering program
required under paragraph (1)(A), to adopt controls that are
reasonably designed to--
``(A) verify a customer's identity, including
during any online pre-registration process and at the
physical digital asset kiosk location;
``(B) monitor for digital asset kiosk transactions
involving a digital asset wallet directly or indirectly
associated with any digital asset wallet address listed
on any relevant sanctions lists through the use of
blockchain analytics tools;
``(C) assess the risks associated with and the
likelihood of future illicit activity in connection
with digital asset kiosk transactions through the use
of blockchain analytics tools; and
``(D) maintain restrictions that prevent more than
one customer of such digital asset kiosk operator from
using the same digital wallet address.
``(c) Limits for Digital Asset Kiosk Transactions.--
``(1) Daily limits for new customers.--A digital asset
kiosk operator may not accept one or more digital asset kiosk
transactions on behalf of a new customer that have a total
monetary value of more than $2,000 during a 24-hour period.
``(2) Total limits for new customers.--A digital asset
kiosk operator may not accept digital asset kiosk transactions
on behalf of a new customer that have a total monetary value,
in the aggregate, of more than $10,000.
``(3) Daily limits for existing customers.--With respect to
a customer that is not a new customer, a digital asset kiosk
operator may not accept one or more digital asset kiosk
transactions on behalf of the customer that have a total
monetary value of more than $7,500 during a 24-hour period.
``(4) Inflation adjustment.--The Secretary of the Treasury
shall update the dollar amounts in this subsection every 5
years to reflect the change in the Consumer Price Index for All
Urban Consumers published by the Bureau of Labor Statistics of
the Department of Labor.
``(5) Rulemaking authority.--The Secretary of the Treasury
may issue rules to adjust the transaction limit amounts
described under this subsection, as the Secretary determines
are reasonably necessary to deter fraudulent activity and
illicit finance.
``(d) Disclosures for Customers.--
``(1) In general.--A digital asset kiosk operator shall
take reasonable steps to provide written disclosure to any
customer prior to initiating a digital asset kiosk transaction,
in English and in the same language principally used by the
digital asset kiosk operator to advertise or solicit customers,
including by displaying the disclosure in a prominent,
conspicuous, easily readable manner, that contains the terms,
conditions, and itemized elements of the transaction and
contains the following:
``(A) A warning written prominently in bold type
stating the following: `Warning: Losses due to
fraudulent or accidental transactions may not be
recoverable and digital asset kiosk transactions are
irreversible.'.
``(B) The following statement: `Digital assets are
not legal tender. Digital assets are not backed by the
full faith and credit of the United States Government
or guaranteed by the United States Government. Digital
asset wallet accounts and digital asset balances are
not subject to FDIC insurance or NCUA insurance.'.
``(C) The amount of digital assets involved in the
transaction and the type of digital assets involved in
the transaction, including the ticker or symbol that is
used to represent a digital asset.
``(D) The U.S. dollar price of the digital assets
involved in the digital asset kiosk transaction that is
charged to the customer and the current U.S. dollar
market price of such digital assets, as is quoted on at
least one digital asset trading platform that is
registered with the Department of the Treasury and is
identified by name, at the time the disclosure is
provided.
``(E) The amount of charges collected from the
customer by the digital asset kiosk operator, which
shall be--
``(i) displayed prominently in bold type on
a dedicated disclosure screen; and
``(ii) presented as an itemized list that
separately identifies--
``(I) any fees or expenses paid by
the customer, expressed in United
States dollars and as the percentage of
the transaction; and
``(II) the difference, expressed in
United States dollars, between the
current market price of the digital
assets involved in the transaction and
the price of such digital assets
charged to the customer.
``(2) Guidance.--Not later than 180 days after the date of
enactment of this section, the Secretary of the Treasury, in
consultation with the Federal Trade Commission and the Director
of the Bureau of Consumer Financial Protection, shall issue
guidance to assist digital asset kiosk operators with providing
disclosures described in paragraph (1) that are effective,
clear and conspicuous, easily understandable, and displayed in
a standardized format.
``(e) Anti-Fraud Measures.--
``(1) In general.--A digital asset kiosk operator shall
take reasonable steps to detect and prevent financial fraud,
including by taking the following steps:
``(A) Providing clear scam warnings to customers
before entering into a digital asset transaction that,
at a minimum, address the following common fraudulent
tactics:
``(i) Payment requests to an individual the
customer has never met.
``(ii) Initial contact via social media,
online dating, or other messaging applications.
``(iii) Impersonation of representatives
from government agencies, financial
institutions, credit unions, or other
legitimate organizations or businesses.
``(iv) Urgent or emergency requests.
``(v) Utilizing a scannable code associated
with a digital asset wallet that is not owned
by the customer.
``(B) Updating, on an annual basis, the warnings
described in subparagraph (A), which shall be informed
by the annual fraud alerts or notices described in
subsection (k).
``(2) Anti-fraud policy.--Not later than 180 days after the
date of enactment of this section, the Secretary of the
Treasury shall issue rules to require a digital asset kiosk
operator to develop, implement, and routinely update an anti-
fraud policy that--
``(A) is in writing and available for inspection by
the Secretary of the Treasury or the Secretary's
designee;
``(B) is signed by, certified by, and accountable
to senior management of the digital asset kiosk
operator; and
``(C) includes policies, procedures, controls, and
monitoring mechanisms to address the fraudulent
practices described in paragraph (1)(A).
``(f) Acknowledgment of Disclosures.--
``(1) In general.--Each time a customer uses a digital
asset kiosk, the digital asset kiosk operator shall ensure
acknowledgment of all disclosures required under subsection (d)
and fraud warnings under subsection (e) via confirmation of
consent of the customer at the digital asset kiosk.
``(2) Requirements for new customers.--Prior to initiating
a digital asset kiosk transaction on behalf of a new customer,
a digital asset kiosk operator shall obtain confirmation from
the new customer that--
``(A) the new customer has reviewed the disclosure
of charges described in subsection (d)(1)(E); and
``(B) the new customer understands the total
charges as a percentage of the transaction amount.
``(3) Rule of constructions on customer remedies.--An
acknowledgment described under this subsection shall not be
construed to waive, nullify, or limit any right to a refund or
other remedy available to a customer under applicable State or
local law.
``(g) Receipts.--Upon completion of each digital asset kiosk
transaction, the digital asset kiosk operator shall provide the
customer with a physical or electronic receipt, which shall include the
following information:
``(1) The name and contact information of the digital asset
kiosk operator, including a telephone number for a customer
service help line.
``(2) The name of the customer.
``(3) The type, value, date, and precise time of the
digital asset kiosk transaction, and each applicable digital
asset wallet address.
``(4) The amount of United States dollars or other fiat
currency involved in the transaction.
``(5) The amount, in United States dollars, of any charges
collected by the digital asset kiosk operator in relation to
the transaction, presented as line-items summed within the
total transaction.
``(6) A statement that the customer should contact law
enforcement if they suspect fraud or scams, including the
contact information for the relevant local law enforcement
agency and for applicable State and Federal law enforcement
agencies.
``(7) Any additional information the digital asset kiosk
operator determines appropriate.
``(h) Customer Service Help Line.--A digital asset kiosk operator
shall provide live customer service during extended business hours and
display the phone number for such service in a clear, conspicuous, and
easily readable manner upon each digital asset kiosk.
``(i) Refunds for Charges.--A digital asset kiosk operator shall
issue a refund for charges collected from a customer in connection with
a digital asset kiosk transaction within 30 days if--
``(1) the customer was fraudulently induced into engaging
in the digital asset kiosk transaction; and
``(2) the customer files a complaint to the digital asset
kiosk operator, which includes--
``(A) the name, address, and phone number of the
customer;
``(B) information that establishes the type, value,
date, and time of the digital asset kiosk transaction;
and
``(C) a copy of a report to a State or local law
enforcement agency or a Federal or State authority made
not later than 90 days after the digital asset kiosk
transaction.
``(j) Communications With Financial Crimes Enforcement Network and
Law Enforcement.--The Secretary of the Treasury shall issue rules to
require a digital asset kiosk operator to provide the Financial Crimes
Enforcement Network and other relevant law enforcement and government
agencies with a dedicated and frequently monitored phone number and
email address to facilitate communication with the operator in the
event of reported or suspected fraudulent activity.
``(k) Fraud Scheme Alerts.--Not later than 9 months after the date
of enactment of this section, and for each calendar year thereafter,
the Secretary of the Treasury, in consultation with the Federal Bureau
of Investigation and the Federal Trade Commission, shall issue an alert
or notice to assist digital asset kiosk operators in--
``(1) identifying emerging fraud schemes involving digital
asset kiosks; and
``(2) filing suspicious activity reports.
``(l) State Regulatory Authority.--
``(1) Effect on state licensing laws.--Nothing in this
section may be construed to limit the authority of a State
regulatory agency to require a digital asset kiosk operator to
ensure registration, licensing, and compliance related to
applicable State laws.
``(2) State-issued decals for compliant digital asset
kiosks.--A State regulatory agency may--
``(A) issue a decal or physical sign that can be
affixed to a digital asset kiosk, in a form or manner
determined by the State regulatory agency, to signal
compliance with applicable State and Federal laws,
including whether--
``(i) the physical location of such digital
asset kiosk has been filed with the Secretary
of the Treasury; and
``(ii) the operator of such digital asset
kiosk is registered with the Secretary of the
Treasury and has obtained the appropriate
licensing from the State regulatory agency;
``(B) administer a process through which a digital
asset kiosk operator is issued such decal or sign for
affixation to the digital asset kiosk; and
``(C) impose penalties for any false advertising,
misuse of signage, or misrepresentations of regulated
or compliant status.
``(3) Coordination with state regulators.--The Secretary of
the Treasury, acting through the Financial Crimes Enforcement
Network, may enter into agreements with State regulatory
agencies to facilitate the supervision of digital asset kiosk
operators and enhance compliance with Federal standards,
including agreements relating to the coordination of
examinations and the sharing of supervisory information for the
purposes of enforcing applicable Federal standards.
``(4) Effect on state law.--This section--
``(A) shall supersede any applicable State or local
law with respect to restrictions or requirements
established after the effective date of this section on
the total monetary value that any customer may exchange
in one or multiple digital asset kiosk transactions
within a defined time period;
``(B) may not be construed to limit the authority
of a State regulatory agency or local authority to
impose other requirements in order to protect consumers
or prevent fraudulent or money laundering activity;
``(C) may not be construed to permit a digital
asset kiosk operator to operate or otherwise conduct
business in a State without obtaining the appropriate
licensing from the applicable State regulatory agency
and complying with other applicable State laws; and
``(D) subject to subparagraph (A), may not be
construed as altering, limiting, or affecting the
authority of a State attorney general or any State
regulatory agency to bring an enforcement action or
other regulatory proceeding arising solely under the
law in effect in that State.''.
(b) Effective Date.--Section 5337 of title 31, United States Code,
shall take effect at the end of the 180-day period beginning on the
date of enactment of this Act.
(c) Clerical Amendment.--The table of sections for chapter 53 of
title 31, United States Code, is amended by inserting after the item
relating to section 5336 the following:
``5337. Anti-money laundering and anti-fraud requirements for digital
asset kiosk operators.''.
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