MONTPELIER, Vt.—In a move aimed at protecting Vermonters from fraudsters, the state has passed legislation regulating cryptocurrency kiosks, which allow people to quickly buy virtual currencies with cash or debit cards.
Among the provisions included in H.659 are a daily transaction limit, a fee cap on exchanges and a one-year moratorium on the installation of any new machines in the state, which would take effect at the end of June, VTDigger reported.
Although Gov. Phil Scott had not seen the bill’s final language yet, his spokesperson Jason Maulucci was quoted by the publication as saying “the Department of Financial Regulation has been comfortable” with its provisions.
The kiosks look like standard ATMs, but sell cryptocurrency.
There are currently 36 approved kiosk locations in Vermont, with seven more pending regulatory approval, according to the Department of Financial Regulation, VTDigger noted.
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