Relates to crypto kiosks

Summary

Provides for the registration and regulation of crypto kiosks and exchanges and licensing of cashier crypto exchange operators.

Summary from NY Open Legislation. How we handle summaries

Amends the Banking Law.

Purpose, from the sponsor's memo

Section one amends the banking law by adding a new Article 2-AAA titled "Crypto Kiosks". Section 76-a: Definitions Section 76-b: Crypto kiosk and cashier crypto exchanges explicitly stat- ed as engaging in virtual currency activity must get a license from DFS. Section 76-c: Disclosures for crypto kiosks. Requires that all terms and conditions associated with crypto kiosks are displayed in the chosen language of the user. Section 76-d: Disclosure required prior to completing transaction. Requires the display of a warning label advising the termination of a transaction if directed by an unidentified or suspicious party along with, the information of the owner of the crypto kiosk. Section 76-e: Transaction Receipt. Requires that the crypto kiosk provide a paper and electronic receipt of the transaction with the information of the operator and law enforcement in case of fraud, as well as all transaction logistics. Section 76-f: Customer Service. Requires all crypto kiosks performing businesses to provide a live customer service agent. Section 76-g: Transaction hold periods. Requires the implementation of transaction hold periods and full refunds if the crypto kiosk operator does not comply by anti-fraud provisions. Section 76-h: Fraud refunds related to crypto kiosks. Requires that refunds be issued to users if they are involved in a case of fraud. Section 76-i: Cashier crypto transmission commission. Limits cashier crypto exchanges to currency-to-cash conversions only Section 76-j: Crypto kiosk or cashier crypto fees. Limits all fees and charges associated with one transaction to be under three percent of the value of the United States Dollar. Section 76-k: Fraud and anti-money laundering. Directs all crypto kiosk operators to have anti money-laundering and fraud policies in accordance with the Bank Secrecy Act. Section 76-1: Blockchain analytics. Mandates the use of blockchain analytics to identify illicit activity and a communication portal between operators and law enforcement in a case of reported financial crimes. Section 76-m: Transaction limits and protection. Establishes a daily and monthly transaction limit along with prohibiting the use of alterna- tives. Section 76-n: Establishes a strict liability for non-compliance to the sections of this article and authorizes the Attorney General to bring lawsuits on behalf of consumers for any violation of this article. Section two establishes a severability clause. Section three establishes the effective date. DIFFERENCE BETWEEN NEW AND ORIGINAL: Strengthens DFS oversight by explicitly stating that covered entities are engaging in virtual currency activity. Increases penalties for noncompliance.

Filed with the bill. Read it on nysenate.gov (opens in a new tab)

Where it stands

Passed one of the two chambers; it still needs the other.

Banks · New York State Assembly

Also referred to Banks · New York State Senate, Codes · New York State Assembly, Codes · New York State Senate.

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Cosponsors

Recorded votes

• Vote: Floor vote

  NY SenateJun 3, 2026Result: passed

  Voted yes (59)Voted no (2)Voted present (0)Absent (2)

  See member positions for the vote on Jun 3, 2026 (Floor vote)

• Vote: Committee vote · Banks

  Senate BanksApr 28, 2026Result: passed

  Voted yes (7)Voted no (0)Voted present (0)Absent (0)

  See member positions for the vote on Apr 28, 2026 (Committee vote · Banks)

Full history

1. Jun 4, 2026

   Referred to committee

   REFERRED TO CODES

   NY Assembly

2. Jun 3, 2026

   In committee

   COMMITTEE DISCHARGED AND COMMITTED TO RULES

   NY Senate

3. Jun 3, 2026

   Sent to the executive

   DELIVERED TO ASSEMBLY

   NY Senate

4. Jun 3, 2026

   Ordered to Third Reading CAL.1665

   ORDERED TO THIRD READING CAL.1665

   NY Senate

5. Jun 3, 2026

   Passed a chamber

   PASSED SENATE

   NY Senate

Read the record

• Read on NY Senate (opens in a new tab) The official record on nysenate.gov.