Senate Lowers Fees on Crypto Kiosks Ahead of Floor Debate

The Senate Finance Committee has taken up the House's first-in-the-state cryptocurrency kiosk regulatory bill, known as House Bill 920. In a move to lower fees for operators of these machines, lawmakers have reduced the operator cap fee from 14% to 12%. Daily transaction limits remain in place, with $2,000 allowed for monthly first-time customers and $5,000 for returning clients.

According to Sen. Tom McInnis, R-Moore, this version of the bill acknowledges that cryptocurrency kiosks can be 'vehicles' for cryptocurrency transactions. The Senate's move is now sending the bill toward floor debate.