Missouri Bitcoin ATM Regulations
The "Virtual Currency Kiosk Consumer Protection Act" (HB 754) focuses on anti-fraud policies, material risk disclosures, and requires blockchain analytics software for fraud prevention.
Licensing Requirements
The "Virtual Currency Kiosk Consumer Protection Act" (HB 754) deems kiosk operators as engaged in money transmission and requires licensure under Missouri's money transmitter laws.
Operators must obtain and maintain a money transmitter license through the Missouri Division of Finance.
Anti-Fraud Requirements
Missouri's HB 754 is unique in its focus on anti-fraud measures and blockchain analytics requirements rather than just transaction limits.
Compliance Note - Blockchain Analytics Required
Missouri requires the use of blockchain analytics software to identify and prevent transfers to wallets affiliated with fraudulent activity. Operators must implement technical solutions to screen destination wallets before processing transactions.
Material Risk Disclosures
Missouri requires comprehensive material risk disclosures before any initial transaction can proceed.
- Operators must establish a relationship with customer before first transaction
- Full list of material risks associated with virtual currency must be provided
- Customer must acknowledge receipt and understanding of risks
- Disclosures must be provided in a clear and conspicuous manner
Customer Script
"Before we can process your first transaction in Missouri, we are required by the Consumer Protection Act to provide you with a full list of material risks associated with virtual currency."
Transaction Limits
Unlike many other states with recent legislation, Missouri's HB 754 focuses primarily on disclosures and anti-fraud policies rather than specific daily transaction limits.
| Requirement | Details |
|---|---|
| Daily Limits | No specific caps in HB 754; follow MTL requirements |
| Primary Focus | Anti-fraud policies and disclosures |
Legislative Reference
The primary legislation governing Bitcoin ATM operations in Missouri is House Bill 754, known as the "Virtual Currency Kiosk Consumer Protection Act."
HB 754 - Consumer Protection Act