{"data":{"id":"us-ok/okla.-stat.-tit.-6-6-1520.1","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 6, § 6-1520.1","heading":"Digital asset kiosk operators — License requirement —","body":"Violations.\n\nA. A digital asset kiosk operator shall not engage in digital\n\nasset kiosk transactions or hold itself out as being able to engage\n\nin digital asset kiosk transactions with or on behalf of another\n\nperson unless the digital asset kiosk operator is licensed in this\n\nstate as a money transmitter pursuant to the Oklahoma Financial\n\nTransaction Reporting Act.\n\n1. Any digital asset kiosk operator acting in violation of this\n\nsubsection shall, upon conviction, be guilty of a misdemeanor,\n\npunishable by a fine not less than Six Hundred Dollars ($600.00) nor\n\nmore than Two Thousand Dollars ($2,000.00) per violation, or by\n\nimprisonment in the county jail for not less than thirty (30) days\n\nnor more than one (1) year, or by both such fine and imprisonment.\n\n2. Any digital asset kiosk which is used by a digital asset\n\nkiosk operator in violation of this subsection may be seized at the\n\ndirection of the Attorney General by any commissioned peace officer\n\nin this state. The procedures set forth in Section 1738 of Title 21\n\nof the Oklahoma Statutes shall apply to any digital asset kiosk\n\nseized under this subsection.\n\n3. The Attorney General is authorized to promulgate rules to\n\neffectuate the provisions of this subsection.\n\n4. Any customer who has been fraudulently induced to engage in\n\ndigital asset transactions using a digital asset kiosk operated in\n\nviolation of this subsection may file a civil suit against the\n\ndigital asset kiosk operator for the amount of any losses sustained\n\nby the customer related to such digital asset transactions.\n\nB. A digital asset kiosk operator shall not locate or relocate,\n\nor allow a third party to locate or relocate, a digital asset kiosk\n\nin this state unless the digital asset kiosk operator has provided\n\nnotice of intent to locate or relocate a digital asset kiosk to the\n\nBanking Department no less than ten (10) days prior to its\n\nactivation. The notice to the Banking Department shall contain the\n\nsame information for the digital asset kiosk to be located or\n\nrelocated as is required in the quarterly location report pursuant\n\nto subsection C of this section.\n\nC. Each digital asset kiosk operator shall submit a quarterly\n\nreport of the location of each digital asset kiosk located within\n\nthis state within forty-five (45) days of the end of the calendar\n\nquarter. The location report shall include:\n\n1. The company’s legal name;\n\n2. Any fictitious or trade name;\n\n3. The physical address;\n\n4. The start date of operation of the digital asset kiosk at\n\neach location; and\n\n5. The end date of operation of the digital asset kiosk at each\n\nlocation, if applicable.\n\nD. A digital asset kiosk operator shall disclose in a clear,\n\nconspicuous, and easily readable manner in the chosen language of\n\nthe customer all relevant terms and conditions generally associated\n\nwith the products, services, and activities of the digital asset\n\nkiosk operator and digital assets.\n\n1. The digital asset kiosk operator shall receive\n\nacknowledgement of receipt of all disclosures required under this\n\nact through confirmation of consent.\n\n2. The disclosures under this act shall include:\n\na. a warning, written prominently and in bold type, and\n\nprovided separately from the disclosures below,\n\nstating: “WARNING: LOSSES DUE TO FRAUDULENT OR\n\nACCIDENTAL TRANSACTIONS ARE NOT RECOVERABLE AND\n\nTRANSACTIONS IN DIGITAL ASSETS ARE IRREVERSIBLE.\n\nDIGITAL ASSET TRANSACTIONS MAY BE USED TO STEAL YOUR\n\nMONEY BY CRIMINALS IMPERSONATING THE GOVERNMENT,\n\nORGANIZATIONS, OR YOUR LOVED ONES. THEY CAN THREATEN\n\nJAIL TIME, SAY YOUR IDENTITY HAS BEEN STOLEN, ALLEGE\n\nYOUR COMPUTER HAS BEEN HACKED, INSIST YOU WITHDRAW\n\nMONEY FROM YOUR BANK ACCOUNT TO PURCHASE DIGITAL\n\nASSETS, OR A NUMBER OF OTHER SCAMS. IF YOU BELIEVE\n\nYOU ARE BEING SCAMMED, CALL YOUR LOCAL LAW\n\nENFORCEMENT.”,\nNS MAY BE USED TO STEAL YOUR\n\nMONEY BY CRIMINALS IMPERSONATING THE GOVERNMENT,\n\nORGANIZATIONS, OR YOUR LOVED ONES. THEY CAN THREATEN\n\nJAIL TIME, SAY YOUR IDENTITY HAS BEEN STOLEN, ALLEGE\n\nYOUR COMPUTER HAS BEEN HACKED, INSIST YOU WITHDRAW\n\nMONEY FROM YOUR BANK ACCOUNT TO PURCHASE DIGITAL\n\nASSETS, OR A NUMBER OF OTHER SCAMS. IF YOU BELIEVE\n\nYOU ARE BEING SCAMMED, CALL YOUR LOCAL LAW\n\nENFORCEMENT.”,\n\nb. the material risks associated with digital assets and\n\ndigital asset transactions including, but not limited\n\nto:\n\n(1) a warning that once completed, the transaction\n\nmay not be reversed,\n\n(2) the digital asset kiosk operator’s liability for\n\nunauthorized digital asset transactions,\n\n(3) the digital asset customer’s liability for\n\nunauthorized currency transactions,\n\n(4) that digital assets are not legal tender, backed\n\nor insured by the government, and accounts and\n\nvalue balances are not subject to Federal Deposit\n\nInsurance Corporation, National Credit Union\n\nAdministration, or Securities Investor Protection\n\nCorporation protections,\n\n(5) that some digital asset transactions are deemed\n\nto be made when recorded on a public ledger,\n\nwhich may not be the date or time when the person\n\ninitiates the transaction,\n\n(6) that a digital asset’s value may be derived from\n\nmarket participants’ continued willingness to\n\nexchange currency for digital assets, which may\n\nresult in the permanent and total loss of a\n\nparticular digital asset’s value if the market\n\nfor digital assets disappears,\n\n(7) that a person who accepts a digital asset as\n\npayment today is not required to accept and might\n\nnot accept a digital asset in the future,\n\n(8) that the volatility and unpredictability of the\n\nprice of digital assets relative to currency may\n\nresult in a significant loss over a short period,\n\n(9) that the nature of digital assets means that any\n\ntechnological difficulties experienced by digital\n\nasset kiosk operators may prevent access to or\n\nuse of a person’s digital assets, and\n\n(10) that any bond maintained by the digital asset\n\nkiosk operator for the benefit of a person may\n\nnot cover all losses a person incurs,\n\nc. the amount of the transaction denominated in United\n\nStates dollars as well as the applicable digital\n\nassets,\n\nd. any fees or expenses charged by the digital asset\n\nkiosk operator,\n\ne. any applicable exchange rates,\n\nf. a daily digital asset transaction limit of no more\n\nthan Two Thousand Dollars ($2,000.00) for new\n\ncustomers,\n\ng. notice of a change in the digital asset kiosk\n\noperator’s rules or policies,\n\nh. the name, address, and telephone number of the owner\n\nof the digital asset kiosk and the days, times, and\n\nmeans by which a customer can contact the owner for\n\ncustomer assistance, displayed on or at the location\n\nof the digital asset kiosk, or on the first screen of\n\nthe digital asset kiosk,\n\ni. under what circumstances the digital asset kiosk\n\noperator, without a court or government order,\n\ndiscloses a person’s account information to third\n\nparties, and\n\nj. other disclosures that are customarily given in\n\nconnection with a digital asset transaction.\n\nE. Upon each transaction’s completion, the digital asset kiosk\n\noperator shall provide the customer with a receipt, in paper where\n\npossible, in the language chosen by the customer containing the\n\nfollowing information:\n\n1. The digital asset kiosk operator’s name and contact\n\ninformation, including a telephone number to answer questions and\n\nregister complaints;\n\n2. The type, value, date, and precise time of the transaction,\n\ntransaction hash, and each applicable digital asset address;\n\n3. All fees charged;\n\n4. The exchange rate of the digital asset to United States\n\ndollars;\n\n5. A statement of the digital asset kiosk operator’s liability\n\nfor nondelivery or delayed delivery; and\n\n6. A statement of the digital asset kiosk operator’s refund\ne transaction,\n\ntransaction hash, and each applicable digital asset address;\n\n3. All fees charged;\n\n4. The exchange rate of the digital asset to United States\n\ndollars;\n\n5. A statement of the digital asset kiosk operator’s liability\n\nfor nondelivery or delayed delivery; and\n\n6. A statement of the digital asset kiosk operator’s refund\n\npolicy.\n\nF. In the event that a paper receipt is not possible, the\n\ndigital asset kiosk operator shall post in a conspicuous manner\n\ninformation by which a customer who has engaged in a digital asset\n\nkiosk transaction can contact the digital asset kiosk operator to\n\nobtain a copy of the receipt.\n\nG. All digital asset kiosk operators shall use blockchain\n\ntechnology to assist in the prevention of sending purchased digital\n\nassets from a digital asset kiosk operator to a digital asset wallet\n\nknown to be affiliated with fraudulent activity at the time of a\n\ntransaction. The Banking Department may request evidence from any\n\ndigital asset kiosk operator of the current use of blockchain\n\nanalytics.\n\n1. All digital asset kiosk operators shall take reasonable\n\nsteps to detect and prevent fraud, including establishing and\n\nmaintaining a written anti-fraud policy including, but not limited\n\nto:\n\na. the identification and assessment of fraud-related\n\nrisk areas,\n\nb. procedures and controls to protect against identified\n\nrisks,\n\nc. allocation of responsibility for monitoring risks, and\n\nd. procedures for the periodic evaluation and revision of\n\nthe anti-fraud procedures, controls, and monitoring\n\nmechanisms.\n\n2. Each digital asset kiosk operator shall designate and employ\n\na compliance officer with the following requirements:\n\na. the individual shall be qualified to coordinate and\n\nmonitor compliance with this act and all other\n\napplicable federal and state laws, rules, and\n\nregulations,\n\nb. the individual shall be employed full-time by the\n\ndigital asset kiosk operator,\n\nc. the designated compliance officer cannot be an\n\nindividual who owns more than twenty percent (20%) of\n\nthe digital asset kiosk by whom the individual is\n\nemployed, and\n\nd. compliance responsibilities required under federal and\n\nstate laws, rules, and regulations shall be completed\n\nby full-time employees of the digital asset kiosk\n\noperator.\n\n3. A digital asset kiosk operator shall issue a refund to a new\n\ncustomer for the full amount of all fraudulent transactions,\n\nincluding all transaction fees and charges that were charged to the\n\ncustomer pursuant to subsection I of this section, made while a new\n\ncustomer. To receive a refund under this section, a new customer\n\nshall have been fraudulently induced to engage in the digital asset\n\ntransactions and shall contact the digital asset kiosk operator and\n\nthe Office of the Attorney General to report the fraudulent nature\n\nof the transactions within fourteen (14) days of the last fraudulent\n\ntransaction to occur while the customer was a new customer.\n\n4. A digital asset kiosk operator shall issue a refund to an\n\nexisting customer who qualifies under this paragraph for the full\n\namount of all transaction fees and charges that were charged to the\n\ncustomer pursuant to subsection I of this section upon the request\n\nof the customer. To receive a refund under this paragraph, a\n\ncustomer shall have been fraudulently induced to engage in digital\n\nasset transactions and shall contact the digital asset kiosk\n\noperator and the Office of the Attorney General to report the\n\nfraudulent nature of the transaction within fourteen (14) days of\n\nthe transaction.\n\nH. A digital asset kiosk operator shall not accept transactions\n\nof more than Two Thousand Dollars ($2,000.00), or the equivalent in\n\ndigital assets, in a single day in connection with digital asset\n\nkiosk transactions with a new customer in this state by one or more\n\ndigital asset kiosks.\ny General to report the\n\nfraudulent nature of the transaction within fourteen (14) days of\n\nthe transaction.\n\nH. A digital asset kiosk operator shall not accept transactions\n\nof more than Two Thousand Dollars ($2,000.00), or the equivalent in\n\ndigital assets, in a single day in connection with digital asset\n\nkiosk transactions with a new customer in this state by one or more\n\ndigital asset kiosks.\n\nI. The aggregate fees and charges directly or indirectly\n\ncharged to a customer related to a single transaction or series of\n\nrelated transactions involving digital assets effected through a\n\ndigital asset kiosk in this state, including any difference between\n\nthe price charged to a customer to buy, sell, exchange, swap, or\n\nconvert digital assets and the prevailing market value of such\n\ndigital assets at the time of such transaction, shall not exceed\n\nfifteen percent (15%) of the United States dollar equivalent of the\n\ndigital assets involved in the transaction or transactions.\n\nJ. All digital asset kiosk operators performing business in\n\nthis state shall provide live customer service at a minimum Monday\n\nthrough Friday from 8:00 a.m. CST to 10:00 p.m. CST. The customer\n\nservice toll-free number shall be displayed on the digital asset\n\nkiosk or the digital asset kiosk screens.\n\nK. The Banking Department is authorized to promulgate rules\n\nnecessary to implement the provisions of this act.","path":["OK Code","Title 6"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os6.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"71ad4611ba99af3a37935b8cdaa02a18ea17b3ce7b6d86bbaf3256f04f5f383d","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-6-6-1520","next":"us-ok/okla.-stat.-tit.-6-6-1600"},"notice":"GroundRules: Original legal text. Not legal advice."}