H.R. 9268

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 9268 Introduced in House (IH)]

<DOC>

119th CONGRESS
2d Session
H. R. 9268

To amend the Bank Secrecy Act to require the registration of digital 
asset kiosk operators and to require such operators to comply with 
anti-money laundering and anti-fraud requirements, and for other 
purposes.

_______________________________________________________________________

IN THE HOUSE OF REPRESENTATIVES

June 11, 2026

Mr. Casten (for himself and Ms. Salazar) introduced the following bill; 
which was referred to the Committee on Financial Services

_______________________________________________________________________

A BILL

To amend the Bank Secrecy Act to require the registration of digital 
asset kiosk operators and to require such operators to comply with 
anti-money laundering and anti-fraud requirements, and for other 
purposes.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the ``Stop Crypto ATM Scams Act''.

SEC. 2. REGISTRATION OF DIGITAL ASSET KIOSK OPERATORS.

(a) In General.--Section 5330 of title 31, United States Code, is 
amended--
(1) in subsection (d)--
(A) in paragraph (1)(A), by inserting ``, any 
digital asset kiosk operator,'' after ``similar 
instruments''; and
(B) by adding at the end the following:
``(3) Digital asset kiosk terms.--The terms `digital asset 
kiosk' and `digital asset kiosk operator' have the meaning 
given those terms, respectively, under section 5337(a).''; and
(2) by adding at the end the following:
``(f) Registration of Digital Asset Kiosk Locations.--
``(1) In general.--The Secretary of the Treasury shall 
require a digital asset kiosk operator--
``(A) before beginning to operate a digital asset 
kiosk, to submit a list containing the physical address 
of each digital asset kiosk owned or operated by the 
digital asset kiosk operator; and
``(B) not less than once every 90 days thereafter, 
to submit an update to such list.
``(2) Form and manner of registration.--Each submission by 
a digital asset kiosk operator pursuant to paragraph (1) shall 
include--
``(A) the legal name of the digital asset kiosk 
operator;
``(B) the physical address of each digital asset 
kiosk owned or operated by the digital asset kiosk 
operator that is located in the United States or the 
territories of the United States;
``(C) up-to-date contact information for the 
digital asset kiosk operator's compliance officer 
described in section 5318(h)(1)(B);
``(D) the start date of operation of each digital 
asset kiosk; and
``(E) the end date of operation of each digital 
asset kiosk, if applicable.
``(3) False and incomplete information.--The filing of 
false or materially incomplete information in a submission 
required under paragraph (1) shall be deemed a failure to 
comply with the requirements of this subsection.
``(4) Public availability.--The Secretary of the Treasury 
shall make all information submitted under this subsection 
available to the public, including on a website of the 
Department of the Treasury.''.
(b) Rule of Application for Existing Digital Asset Kiosk 
Operators.--A person who is a digital asset kiosk operator (as defined 
in section 5337(a) of title 31, United States Code) on the date of 
enactment of this Act--
(1) shall, not later than the end of the 6-month period 
beginning on the date of enactment of this Act, submit the 
initial list described in such section 5330(f)(1)(A); and
(2) shall, not later than 90 days after the end of the 6-
month period beginning on the date of enactment of this Act, 
submit the first update of such list.

SEC. 3. ANTI-MONEY LAUNDERING AND ANTI-FRAUD REQUIREMENTS FOR DIGITAL 
ASSET KIOSK OPERATORS.

(a) In General.--Subchapter II of chapter 53 of title 31, United 
States Code, is amended by adding at the end the following:
``Sec. 5337. Anti-money laundering and anti-fraud requirements for 
digital asset kiosk operators
``(a) Definitions.--In this section:
``(1) Charge.--The term `charge' means--
``(A) fees or expenses paid by a customer; and
``(B) the difference between the market price of a 
digital asset and the price of the digital asset 
charged to the customer.
``(2) Digital asset.--The term `digital asset' means any 
digital representation of value that is issued or transferred 
using a cryptographically secured distributed ledger, 
blockchain technology, or any other similar technology.
``(3) Digital asset kiosk.--The term `digital asset kiosk' 
means--
``(A) an automated teller machine that facilitates 
the buying, selling, or exchange of digital assets for 
fiat currency or other digital assets; or
``(B) a digital or mobile application that 
facilitates the buying, selling, or exchange of fiat 
currency for digital assets at a participating physical 
location in an organized merchant network.
``(4) Digital asset kiosk operator.--The term `digital 
asset kiosk operator' means a person that owns or operates a 
digital asset kiosk.
``(5) Digital asset wallet.--The term `digital asset 
wallet' means a software application or other mechanism that 
provides a means for holding, storing, and transferring digital 
assets.
``(6) Digital asset wallet address.--The term `digital 
asset wallet address' means an alphanumeric identifier that is 
associated with a digital asset wallet and represents a 
potential destination for a digital asset transfer.
``(7) Extended business hours.--The term `extended business 
hours' means--
``(A) the hours between 8:00 a.m. and 8:00 p.m. 
local time on business days; and
``(B) the hours between 9:00 a.m. and 5:00 p.m. 
local time on weekends and holidays.
``(8) Market price.--The term `market price' means, with 
respect to a digital asset, the current market price of a 
particular digital asset publicly quoted on a digital asset 
trading platform that is registered with the Department of the 
Treasury for a particular time.
``(9) New customer.--With respect to a digital asset kiosk 
operator, a person is a `new customer' of the digital asset 
kiosk operator if--
``(A) the person has never previously transacted 
with the digital asset kiosk operator; or
``(B) less than 14 days have elapsed since the 
person entered into their first transaction with the 
digital asset kiosk operator.
``(b) Anti-Money Laundering Program.--
``(1) In general.--A digital asset kiosk operator shall--
``(A) develop, implement, and routinely update an 
anti-money laundering program described in section 
5318(h), and file a copy of such program with the 
Financial Crimes Enforcement Network;
``(B) be subject to the requirement to report 
suspicious transactions described in section 5318(g); 
and
``(C) be subject to the requirements described 
under this subchapter to file currency transaction 
reports.
``(2) Risk-based requirements.--Not later than 180 days 
after the date of enactment of this section, the Secretary of 
the Treasury shall issue rules to require a digital asset kiosk 
operator, in implementing an anti-money laundering program 
required under paragraph (1)(A), to adopt controls that are 
reasonably designed to--
``(A) verify a customer's identity, including 
during any online pre-registration process and at the 
physical digital asset kiosk location;
``(B) monitor for digital asset kiosk transactions 
involving a digital asset wallet directly or indirectly 
associated with any digital asset wallet address listed 
on any relevant sanctions lists through the use of 
blockchain analytics tools;
``(C) assess the risks associated with and the 
likelihood of future illicit activity in connection 
with digital asset kiosk transactions through the use 
of blockchain analytics tools; and
``(D) maintain restrictions that prevent more than 
one customer of such digital asset kiosk operator from 
using the same digital wallet address.
``(c) Limits for Digital Asset Kiosk Transactions.--
``(1) Daily limits for new customers.--A digital asset 
kiosk operator may not accept one or more digital asset kiosk 
transactions on behalf of a new customer that have a total 
monetary value of more than $2,000 during a 24-hour period.
``(2) Total limits for new customers.--A digital asset 
kiosk operator may not accept digital asset kiosk transactions 
on behalf of a new customer that have a total monetary value, 
in the aggregate, of more than $10,000.
``(3) Daily limits for existing customers.--With respect to 
a customer that is not a new customer, a digital asset kiosk 
operator may not accept one or more digital asset kiosk 
transactions on behalf of the customer that have a total 
monetary value of more than $7,500 during a 24-hour period.
``(4) Inflation adjustment.--The Secretary of the Treasury 
shall update the dollar amounts in this subsection every 5 
years to reflect the change in the Consumer Price Index for All 
Urban Consumers published by the Bureau of Labor Statistics of 
the Department of Labor.
``(5) Rulemaking authority.--The Secretary of the Treasury 
may issue rules to adjust the transaction limit amounts 
described under this subsection, as the Secretary determines 
are reasonably necessary to deter fraudulent activity and 
illicit finance.
``(d) Disclosures for Customers.--
``(1) In general.--A digital asset kiosk operator shall 
take reasonable steps to provide written disclosure to any 
customer prior to initiating a digital asset kiosk transaction, 
in English and in the same language principally used by the 
digital asset kiosk operator to advertise or solicit customers, 
including by displaying the disclosure in a prominent, 
conspicuous, easily readable manner, that contains the terms, 
conditions, and itemized elements of the transaction and 
contains the following:
``(A) A warning written prominently in bold type 
stating the following: `Warning: Losses due to 
fraudulent or accidental transactions may not be 
recoverable and digital asset kiosk transactions are 
irreversible.'.
``(B) The following statement: `Digital assets are 
not legal tender. Digital assets are not backed by the 
full faith and credit of the United States Government 
or guaranteed by the United States Government. Digital 
asset wallet accounts and digital asset balances are 
not subject to FDIC insurance or NCUA insurance.'.
``(C) The amount of digital assets involved in the 
transaction and the type of digital assets involved in 
the transaction, including the ticker or symbol that is 
used to represent a digital asset.
``(D) The U.S. dollar price of the digital assets 
involved in the digital asset kiosk transaction that is 
charged to the customer and the current U.S. dollar 
market price of such digital assets, as is quoted on at 
least one digital asset trading platform that is 
registered with the Department of the Treasury and is 
identified by name, at the time the disclosure is 
provided.
``(E) The amount of charges collected from the 
customer by the digital asset kiosk operator, which 
shall be--
``(i) displayed prominently in bold type on 
a dedicated disclosure screen; and
``(ii) presented as an itemized list that 
separately identifies--
``(I) any fees or expenses paid by 
the customer, expressed in United 
States dollars and as the percentage of 
the transaction; and
``(II) the difference, expressed in 
United States dollars, between the 
current market price of the digital 
assets involved in the transaction and 
the price of such digital assets 
charged to the customer.
``(2) Guidance.--Not later than 180 days after the date of 
enactment of this section, the Secretary of the Treasury, in 
consultation with the Federal Trade Commission and the Director 
of the Bureau of Consumer Financial Protection, shall issue 
guidance to assist digital asset kiosk operators with providing 
disclosures described in paragraph (1) that are effective, 
clear and conspicuous, easily understandable, and displayed in 
a standardized format.
``(e) Anti-Fraud Measures.--
``(1) In general.--A digital asset kiosk operator shall 
take reasonable steps to detect and prevent financial fraud, 
including by taking the following steps:
``(A) Providing clear scam warnings to customers 
before entering into a digital asset transaction that, 
at a minimum, address the following common fraudulent 
tactics:
``(i) Payment requests to an individual the 
customer has never met.
``(ii) Initial contact via social media, 
online dating, or other messaging applications.
``(iii) Impersonation of representatives 
from government agencies, financial 
institutions, credit unions, or other 
legitimate organizations or businesses.
``(iv) Urgent or emergency requests.
``(v) Utilizing a scannable code associated 
with a digital asset wallet that is not owned 
by the customer.
``(B) Updating, on an annual basis, the warnings 
described in subparagraph (A), which shall be informed 
by the annual fraud alerts or notices described in 
subsection (k).
``(2) Anti-fraud policy.--Not later than 180 days after the 
date of enactment of this section, the Secretary of the 
Treasury shall issue rules to require a digital asset kiosk 
operator to develop, implement, and routinely update an anti-
fraud policy that--
``(A) is in writing and available for inspection by 
the Secretary of the Treasury or the Secretary's 
designee;
``(B) is signed by, certified by, and accountable 
to senior management of the digital asset kiosk 
operator; and
``(C) includes policies, procedures, controls, and 
monitoring mechanisms to address the fraudulent 
practices described in paragraph (1)(A).
``(f) Acknowledgment of Disclosures.--
``(1) In general.--Each time a customer uses a digital 
asset kiosk, the digital asset kiosk operator shall ensure 
acknowledgment of all disclosures required under subsection (d) 
and fraud warnings under subsection (e) via confirmation of 
consent of the customer at the digital asset kiosk.
``(2) Requirements for new customers.--Prior to initiating 
a digital asset kiosk transaction on behalf of a new customer, 
a digital asset kiosk operator shall obtain confirmation from 
the new customer that--
``(A) the new customer has reviewed the disclosure 
of charges described in subsection (d)(1)(E); and
``(B) the new customer understands the total 
charges as a percentage of the transaction amount.
``(3) Rule of constructions on customer remedies.--An 
acknowledgment described under this subsection shall not be 
construed to waive, nullify, or limit any right to a refund or 
other remedy available to a customer under applicable State or 
local law.
``(g) Receipts.--Upon completion of each digital asset kiosk 
transaction, the digital asset kiosk operator shall provide the 
customer with a physical or electronic receipt, which shall include the 
following information:
``(1) The name and contact information of the digital asset 
kiosk operator, including a telephone number for a customer 
service help line.
``(2) The name of the customer.
``(3) The type, value, date, and precise time of the 
digital asset kiosk transaction, and each applicable digital 
asset wallet address.
``(4) The amount of United States dollars or other fiat 
currency involved in the transaction.
``(5) The amount, in United States dollars, of any charges 
collected by the digital asset kiosk operator in relation to 
the transaction, presented as line-items summed within the 
total transaction.
``(6) A statement that the customer should contact law 
enforcement if they suspect fraud or scams, including the 
contact information for the relevant local law enforcement 
agency and for applicable State and Federal law enforcement 
agencies.
``(7) Any additional information the digital asset kiosk 
operator determines appropriate.
``(h) Customer Service Help Line.--A digital asset kiosk operator 
shall provide live customer service during extended business hours and 
display the phone number for such service in a clear, conspicuous, and 
easily readable manner upon each digital asset kiosk.
``(i) Refunds for Charges.--A digital asset kiosk operator shall 
issue a refund for charges collected from a customer in connection with 
a digital asset kiosk transaction within 30 days if--
``(1) the customer was fraudulently induced into engaging 
in the digital asset kiosk transaction; and
``(2) the customer files a complaint to the digital asset 
kiosk operator, which includes--
``(A) the name, address, and phone number of the 
customer;
``(B) information that establishes the type, value, 
date, and time of the digital asset kiosk transaction; 
and
``(C) a copy of a report to a State or local law 
enforcement agency or a Federal or State authority made 
not later than 90 days after the digital asset kiosk 
transaction.
``(j) Communications With Financial Crimes Enforcement Network and 
Law Enforcement.--The Secretary of the Treasury shall issue rules to 
require a digital asset kiosk operator to provide the Financial Crimes 
Enforcement Network and other relevant law enforcement and government 
agencies with a dedicated and frequently monitored phone number and 
email address to facilitate communication with the operator in the 
event of reported or suspected fraudulent activity.
``(k) Fraud Scheme Alerts.--Not later than 9 months after the date 
of enactment of this section, and for each calendar year thereafter, 
the Secretary of the Treasury, in consultation with the Federal Bureau 
of Investigation and the Federal Trade Commission, shall issue an alert 
or notice to assist digital asset kiosk operators in--
``(1) identifying emerging fraud schemes involving digital 
asset kiosks; and
``(2) filing suspicious activity reports.
``(l) State Regulatory Authority.--
``(1) Effect on state licensing laws.--Nothing in this 
section may be construed to limit the authority of a State 
regulatory agency to require a digital asset kiosk operator to 
ensure registration, licensing, and compliance related to 
applicable State laws.
``(2) State-issued decals for compliant digital asset 
kiosks.--A State regulatory agency may--
``(A) issue a decal or physical sign that can be 
affixed to a digital asset kiosk, in a form or manner 
determined by the State regulatory agency, to signal 
compliance with applicable State and Federal laws, 
including whether--
``(i) the physical location of such digital 
asset kiosk has been filed with the Secretary 
of the Treasury; and
``(ii) the operator of such digital asset 
kiosk is registered with the Secretary of the 
Treasury and has obtained the appropriate 
licensing from the State regulatory agency;
``(B) administer a process through which a digital 
asset kiosk operator is issued such decal or sign for 
affixation to the digital asset kiosk; and
``(C) impose penalties for any false advertising, 
misuse of signage, or misrepresentations of regulated 
or compliant status.
``(3) Coordination with state regulators.--The Secretary of 
the Treasury, acting through the Financial Crimes Enforcement 
Network, may enter into agreements with State regulatory 
agencies to facilitate the supervision of digital asset kiosk 
operators and enhance compliance with Federal standards, 
including agreements relating to the coordination of 
examinations and the sharing of supervisory information for the 
purposes of enforcing applicable Federal standards.
``(4) Effect on state law.--This section--
``(A) shall supersede any applicable State or local 
law with respect to restrictions or requirements 
established after the effective date of this section on 
the total monetary value that any customer may exchange 
in one or multiple digital asset kiosk transactions 
within a defined time period;
``(B) may not be construed to limit the authority 
of a State regulatory agency or local authority to 
impose other requirements in order to protect consumers 
or prevent fraudulent or money laundering activity;
``(C) may not be construed to permit a digital 
asset kiosk operator to operate or otherwise conduct 
business in a State without obtaining the appropriate 
licensing from the applicable State regulatory agency 
and complying with other applicable State laws; and
``(D) subject to subparagraph (A), may not be 
construed as altering, limiting, or affecting the 
authority of a State attorney general or any State 
regulatory agency to bring an enforcement action or 
other regulatory proceeding arising solely under the 
law in effect in that State.''.
(b) Effective Date.--Section 5337 of title 31, United States Code, 
shall take effect at the end of the 180-day period beginning on the 
date of enactment of this Act.
(c) Clerical Amendment.--The table of sections for chapter 53 of 
title 31, United States Code, is amended by inserting after the item 
relating to section 5336 the following:

``5337. Anti-money laundering and anti-fraud requirements for digital 
asset kiosk operators.''.
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