CHEYENNE, Wyo.— Wyoming has enacted a new law regulating virtual currency kiosks, with Gov. Mark Gordon signing House Bill 75 on March 6, according to ATM Marketplace.
The law brings cryptocurrency kiosks under the state’s existing financial oversight framework by requiring operators to comply with the Wyoming Money Transmitters Act and broadly defines the terminals as publicly accessible machines that allow users to exchange digital assets for cash, FI credit or other cryptocurrencies.
Under the new law, individuals and companies may not own or operate crypto kiosks unless they are properly licensed or are state-chartered financial institutions. ATM Marketplace reported that violations can trigger significant penalties, including felony charges, prison terms of at least three years and fines of at least $10,000.
The statute also gives the state banking commissioner authority to adopt rules governing kiosk operations and provides that regulatory data collected from operators will remain confidential, subject to limited exceptions. The law took effect immediately, requiring existing operators to come into compliance without delay.