The Vermont Statutes Online

Title 8 : Banking and Insurance

Chapter 079 : Money Services

Subchapter 010 : Virtual Currency

• § 2577. Virtual-currency kiosk prohibition

  (a) Prohibition of virtual currency kiosks.

  (1) No person shall locate, operate, or otherwise make available for use, or allow a third party to locate, operate, or otherwise make available for use, a virtual currency kiosk in Vermont.

  (2) No person shall offer, facilitate, or engage in, in whole or in part, directly or indirectly, virtual-currency business activity via a money transmission kiosk in Vermont.

  (b) Registration expiration and refunds. With respect to any virtual-currency kiosk in operation in Vermont prior to July 1, 2026:

  (1) Expiration and termination. Any registration of a virtual-currency kiosk shall expire and terminate on July 1, 2026.

  (2) Full refund for new customers. The virtual-currency kiosk operator shall provide a full refund to a customer who was fraudulently induced to engage in a virtual-currency kiosk transaction, provided the fraudulently induced transaction occurred while the customer was a new customer and further provided the customer contacts the virtual-currency kiosk operator and a law enforcement or government agency to inform the operator and the agency of the fraudulent nature of the transaction within 90 days after the customer’s last virtual-currency transaction with the virtual-currency kiosk operator. The refund shall include any fees charged in association with the fraudulently induced transaction.

  (3) Fee refund for existing customers. The virtual-currency kiosk operator shall provide a fee refund to an existing customer who has been fraudulently induced to engage in a virtual-currency kiosk transaction, provided the customer contacts the virtual-currency kiosk operator and a law enforcement or government agency to inform the operator and the agency of the fraudulent nature of the transaction within 90 days after the last fraudulently induced transaction. The refund shall include all fees charged in association with the fraudulently induced transaction.

  (4) Records retention. Until at least July 1, 2031, or a later date required by the Commissioner, the virtual-currency kiosk operator shall maintain, and make available to the Commissioner upon request, all records that the virtual-currency kiosk operator was required to maintain prior to July 1, 2026.

  (c) Violations. For any virtual-currency kiosk transaction occurring after July 1, 2026, in violation of this section, the virtual-currency kiosk operator shall provide a full refund to the customer upon request of the customer or the Commissioner. The refund shall include any fees charged in association with the transaction. (Added 2023, No. 110 (Adj. Sess.), § 48, eff. July 1, 2024; amended 2025, No. 23, § 24, eff. July 1, 2025; 2025, No. 142 (Adj. Sess.), § 14b, eff. July 1, 2026.)