Bill Text: MI HB6222 | 2025-2026 | 103rd Legislature | Introduced
Bill Title: Consumer protection: other; cryptocurrency exchange kiosk regulation act; create. Creates new act. TIE BAR WITH: HB 6223'26
Sponsorship: Partisan Bill (Democrat 2)
Status: (Introduced) 2026-07-29 - Bill Electronically Reproduced 07/16/2026 [HB6222 Detail]
Download: Michigan-2025-HB6222-Introduced.html
HOUSE BILL NO. 6222
A bill to regulate the installation and operation of cryptocurrency exchange kiosks; to provide for the powers and duties of certain state governmental officers and entities; to prescribe civil sanctions; and to provide remedies.
the people of the state of michigan enact:
Sec. 1. This act may be cited as the "cryptocurrency exchange kiosk regulation act".
(a) "Cryptocurrency" means digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, and that operates independently of a central bank.
(b) "Cryptocurrency exchange kiosk" means a physical electronic terminal that enables a person to exchange government-issued currency for cryptocurrency or cryptocurrency for government-issued currency. Cryptocurrency exchange kiosk does not include online exchanges, personal digital wallets, or peer-to-peer cryptocurrency software.
(c) "New user" means an individual who has not previously conducted a transaction using a cryptocurrency exchange kiosk operated by the same operator.
(d) "Operator" means a person that owns, leases, controls, manages, or is responsible for the operation of a cryptocurrency exchange kiosk.
(e) "Person" means an individual or a partnership, corporation, limited liability company, association, governmental entity, or other legal entity.
(f) "Reasonable measures" means good-faith efforts and procedures implemented by an operator to identify, prevent, and respond to fraudulent or suspicious transactions and ensure the operator's compliance with this act, including, but not limited to, by use of transaction monitoring, user verification procedures, and transaction delays.
(g) "Secure location" means a location that is continuously staffed during normal business hours or that is subject to continuous video surveillance and controlled access.
Sec. 5. (1) An operator shall not allow an individual to conduct more than $500.00 per day in aggregate transactions at any cryptocurrency exchange kiosk that is operated by the operator.
(2) An operator complies with subsection (1) if the operator implements reasonable measures to prevent circumvention of the daily aggregate transaction limit described in subsection (1).
(3) The daily aggregate transaction limit described in subsection (1) is intended to reduce consumer fraud, interrupt coercive or time-sensitive scam activity, and provide clear standards for transactions conducted at a cryptocurrency exchange kiosk.
Sec. 7. An operator shall not process a transaction for a new user unless the transaction is subject to a hold period of not less than 24 hours.
Sec. 9. (1) An operator shall not install or operate a cryptocurrency exchange kiosk that is not in a secure location.
(2) An operator shall not allow a transaction to be conducted at a cryptocurrency exchange kiosk unless the transaction is conducted during the normal business hours of the location or the location is staffed at the time of the transaction.
Sec. 11. (1) An operator shall display the following warnings, in a clear and conspicuous manner, on each cryptocurrency exchange kiosk and during each transaction conducted at a cryptocurrency exchange kiosk:
"Cryptocurrency transactions are irreversible.
Cryptocurrency exchange kiosks are commonly used in fraud schemes.
No government agency or law enforcement entity will request payment through a cryptocurrency exchange kiosk.".
(2) An operator shall provide a receipt for each transaction conducted at a cryptocurrency exchange kiosk. The receipt must include, but is not limited to, all of the following information:
(a) The amount of the transaction.
(b) The exchange rate of the transaction.
(c) Any fees charged for the transaction.
(d) Contact information for reporting suspected fraud to the operator.
(3) An operator shall maintain records relating to its cryptocurrency exchange kiosk locations and transactions and shall make those records available to the attorney general upon request.
Sec. 13. (1) Except as otherwise provided in subsection (2), an operator that violates section 5, 7, 9, or 11 is subject to a civil fine of not more than $10,000.00.
(2) An operator that violates section 5, 7, 9, or 11 and has engaged in a pattern or practice of violations of those sections, including, but not limited to, by repeated failures to implement reasonable measures or to address known fraudulent or suspicious transaction activity, is subject to a civil fine of not more than $25,000.00.
(3) Each transaction conducted in violation of section 5, 7, 9, or 11 constitutes a separate violation for the purpose of assessing a civil fine under subsection (1) or (2). A civil fine collected under subsection (1) or (2) must be deposited in the general fund.
(4) The attorney general may do any of the following with respect to this act:
(a) Investigate an operator that has engaged, is engaging, or is about to engage in a violation of this act.
(b) Coordinate with any federal, state, or local law enforcement or regulatory agency that the attorney general determines is necessary for an investigation under subdivision (a).
(c) Disclose documentary material or other information obtained by the attorney general in carrying out an investigation under subdivision (a) to any law enforcement or regulatory agency described in subdivision (b).
(d) Bring an action to collect a civil fine imposed under subsection (1) or (2).
(e) Bring an action for a temporary or permanent injunction in the manner provided in section 5 of the Michigan consumer protection act, 1976 PA 331, MCL 445.905.
(f) Accept an assurance of discontinuance in the manner provided in section 6 of the Michigan consumer protection act, 1976 PA 331, MCL 445.906.
(g) Apply for the issuance of subpoenas in the manner provided in sections 7 and 8 of the Michigan consumer protection act, 1976 PA 331, MCL 445.907 and 445.908.
(h) Bring a class action in the manner provided in section 10 of the Michigan consumer protection act, 1976 PA 331, MCL 445.910.
(5) This act does not create a private cause of action for a violation of this act.
Sec. 15. This act shall be liberally construed to effectuate its consumer protection and fraud prevention purposes. Nothing in this act is intended to limit the authority of any federal, state, or local law enforcement agency to investigate or enforce any other law.
Enacting section 1. This act takes effect 90 days after the date it is enacted into law.
Enacting section 2. This act does not take effect unless House Bill No. 6223 (request no. H07425'26) of the 103rd Legislature is enacted into law.
