First Regular Session
Seventy-fifth General Assembly
STATE OF COLORADO
ENGROSSED
This Version Includes All Amendments Adopted
on Second Reading in the House of Introduction
LLS NO. 25-0363.01 Clare Haffner x6137
SENATE BILL 25-079
Senate Committees House Committees
Judiciary
A BILL FOR AN ACT
C
ONCERNING THE "COLORADO VENDING OF DIGITAL ASSETS ACT".101
Bill Summary
(Note: This summary applies to this bill as introduced and does
not reflect any amendments that may be subsequently adopted. If this bill
passes third reading in the house of introduction, a bill summary that
applies to the reengrossed version of this bill will be available at
http://leg.colorado.gov
.)
The bill enacts the "Colorado Vending of Digital Assets Act",
which requires an owner or operator of a virtual currency kiosk to:
! Provide certain disclosures to customers of the virtual
currency kiosk;
! Provide each customer with a printed and an electronic
receipt detailing the customer's virtual currency transaction;
and
! Fully refund a customer's first virtual currency transaction
SENATE
Amended 2nd Reading
February 27, 2025
SENATE SPONSORSHIP
Rich and Roberts,
HOUSE SPONSORSHIP
Taggart and Jackson,
Shading denotes HOUSE amendment. Double underlining denotes SENATE amendment.
Capital letters or bold & italic numbers indicate new material to be added to existing law.
Dashes through the words or numbers indicate deletions from existing law. if the virtual currency transaction is to a virtual currency
wallet or exchange located outside of the United States and
is determined by law enforcement to be fraudulent.
The bill establishes a daily transaction limit of $1,000 for a
customer of a virtual currency kiosk.
The bill defines "virtual currency" as a type of digital unit that is
used as a medium of exchange or a form of digitally stored value or that
is incorporated into payment system technology. "Virtual currency kiosk"
is defined as an electronic terminal acting as a mechanical agent of the
owner or operator to enable the owner or operator to facilitate the
exchange of virtual currency for other virtual currency or fiat currency.
Be it enacted by the General Assembly of the State of Colorado:1
SECTION 1. In Colorado Revised Statutes, add article 112 to2
title 11 as follows:3
ARTICLE 1124
Colorado Vending of Digital Assets5
11-112-101. Short title. T
HE SHORT TITLE OF THIS ARTICLE 112 IS6
THE "COLORADO VENDING OF DIGITAL ASSETS ACT".7
11-112-102. Definitions. A
S USED IN THIS ARTICLE 112, UNLESS8
THE CONTEXT OTHERWISE REQUIRES :9
(1) "B
LOCKCHAIN TECHNOLOGY " HAS THE MEANING SET FORTH IN10
SECTION 24-36-121.5 (2)(a).11
(2) (a) "N
EW CUSTOMER" MEANS A CUSTOMER TRANSACTING AT
12
A VIRTUAL CURRENCY KIOSK IN COLORADO WHO HAS BEEN A CUSTOMER13
OF AN OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK FOR LESS14
THAN SEVEN DAYS.15
(b) S
EVEN DAYS AFTER A CUSTOMER FIRST TRANSACTS WITH AN
16
OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK , THE CUSTOMER IS17
CONSIDERED AN EXISTING CUSTOMER AND IS NOT SUBJECT TO THE NEW18
CUSTOMER TRANSACTION LIMIT DESCRIBED IN SECTION 11-112-103 (6).19
079-2- (3) "TRANSACTION HASH" MEANS A UNIQUE IDENTIFIER MADE UP1
OF A STRING OF CHARACTERS THAT ACTS AS A RECORD AND PROVIDES2
PROOF THAT A TRANSACTION WAS VERIFIED AND ADDED TO BLOCKCHAIN3
TECHNOLOGY.4
(4) (a) "VIRTUAL CURRENCY" MEANS A TYPE OF DIGITAL UNIT5
THAT IS USED AS A MEDIUM OF EXCHANGE OR A FORM OF DIGITALLY6
STORED VALUE OR THAT IS INCORPORATED INTO PAYMENT SYSTEM7
TECHNOLOGY.8
(b) "V
IRTUAL CURRENCY" INCLUDES DIGITAL UNITS THAT:9
(I) H
AVE A CENTRALIZED REPOSITORY OR ADMINISTRATOR ;10
(II) A
RE DECENTRALIZED AND HAVE NO CENTRALIZED REPOSITORY11
OR ADMINISTRATOR; OR12
(III) M
AY BE CREATED OR OBTAINED BY COMPUTING OR13
MANUFACTURING EFFORT .14
(c) "V
IRTUAL CURRENCY" DOES NOT INCLUDE DIGITAL UNITS THAT:15
(I) A
RE USED SOLELY WITHIN ONLINE GAMING PLATFORMS , WITH16
NO MARKET OR APPLICATION OUTSIDE THE GAMING PLATFORMS ;
17
(II) A
RE USED EXCLUSIVELY AS PART OF A CONSUMER AFFINITY OR18
REWARDS PROGRAM AND CAN BE APPLIED AS PAYMENT FOR PURCHASES19
WITH THE ISSUER OR OTHER DESIGNATED MERCHANTS BUT CANNOT BE20
CONVERTED INTO OR REDEEMED FOR FIAT CURRENCY ; OR
21
(III) A
RE USED AS PART OF A CONSUMER AFFINITY OR REWARDS
22
PROGRAM OFFERED THROUGH AN INSTITUTION THAT IS INSURED BY THE23
FEDERAL DEPOSIT INSURANCE CORPORATION OR THE NATIONAL CREDIT24
UNION ADMINISTRATION.25
(5) "VIRTUAL CURRENCY ADDRESS " MEANS AN ALPHANUMERIC26
IDENTIFIER REPRESENTING A DESTINATION FOR A VIRTUAL CURRENCY27
079
-3- TRANSFER THAT IS ASSOCIATED WITH A VIRTUAL CURRENCY WALLET .1
(6) "VIRTUAL CURRENCY KIOSK " MEANS AN ELECTRONIC2
TERMINAL ACTING AS A MECHANICAL AGENT OF THE OWNER OR OPERATOR3
TO ENABLE THE OWNER OR OPERATOR TO FACILITATE THE EXCHANGE OF4
VIRTUAL CURRENCY FOR OTHER VIRTUAL CURRENCY OR FIAT CURRENCY ,5
INCLUDING BY:6
(a) C
ONNECTING TO A SEPARATE VIRTUAL CURRENCY EXCHANGER7
THAT PERFORMS THE ACTUAL VIRTUAL CURRENCY TRANSMISSION ; OR8
(b) D
RAWING UPON THE VIRTUAL CURRENCY IN THE POSSESSION9
OF THE OWNER OR OPERATOR OF THE ELECTRONIC TERMINAL .10
(7)
"VIRTUAL CURRENCY WALLET " MEANS A SOFTWARE11
APPLICATION OR OTHER MECHANISM PROVIDING A MEANS FOR HOLDING ,12
STORING, AND TRANSFERRING VIRTUAL CURRENCY .13
11-112-103. Virtual currency kiosks - disclosures - receipts -14
daily limit - cancellation and refund. (1) B
EFORE ENTERING INTO A15
VIRTUAL CURRENCY TRANSACTION FOR , ON BEHALF OF, OR WITH A16
CUSTOMER, THE OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK17
SHALL DISCLOSE TO THE CUSTOMER IN CLEAR AND CONSPICUOUS WRITING18
IN THE ENGLISH LANGUAGE ALL MATERIAL RISKS ASSOCIATED WITH19
VIRTUAL CURRENCY. THE DISCLOSURES MUST BE DISPLAYED ON THE20
SCREEN OF THE VIRTUAL CURRENCY KIOSK WITH THE ABILITY FOR A21
CUSTOMER TO ACKNOWLEDGE RECEIPT OF THE DISCLOSURES . THE22
DISCLOSURES MUST INCLUDE AT LEAST THE FOLLOWING STATEMENT :
23
WARNING:
THIS TECHNOLOGY CAN BE USED TO
24
DEFRAUD
YOU. IF YOU HAVE BEEN DIRECTED TO THIS
25
MACHINE
BY SOMEONE CLAIMING TO BE A GOVERNMENT
26
AGENT,
BILL COLLECTOR, LAW ENFORCEMENT OFFICER,
27
079
-4- OR ANYONE YOU DO NOT KNOW PERSONALLY, STOP THIS1
TRANSACTION
IMMEDIATELY AND CONTACT YOUR
2
FINANCIAL
ADVISOR AND LOCAL LAW ENFORCEMENT.
3
4
(2) W
HEN OPENING AN ACCOUNT FOR A CUSTOMER , THE OWNER OR5
OPERATOR OF A VIRTUAL CURRENCY KIOSK SHALL DISCLOSE TO THE6
CUSTOMER IN CLEAR AND CONSPICUOUS WRITING IN THE ENGLISH7
LANGUAGE ALL RELEVANT TERMS AND CONDITIONS ASSOCIATED WITH THE8
PRODUCTS, SERVICES, AND ACTIVITIES OF THE OWNER OR OPERATOR AND9
VIRTUAL CURRENCY GENERALLY , INCLUDING THE FOLLOWING:10
(a) T
HE CUSTOMER'S LIABILITY FOR UNAUTHORIZED VIRTUAL11
CURRENCY TRANSACTIONS ;12
13
(b) UNDER WHICH CIRCUMSTANCES THE OWNER OR OPERATOR14
WILL, ABSENT A COURT OR GOVERNMENT ORDER , DISCLOSE INFORMATION15
CONCERNING THE CUSTOMER 'S ACCOUNT TO THIRD PARTIES;16
(c) THE CUSTOMER'S RIGHT TO RECEIVE PERIODIC ACCOUNT17
STATEMENTS AND VALUATIONS FROM THE OWNER OR OPERATOR ;18
(d) THE CUSTOMER'S RIGHT TO RECEIVE A RECEIPT, A TRADE19
TICKET, OR OTHER EVIDENCE OF A VIRTUAL CURRENCY TRANSACTION ; AND20
(e) THE CUSTOMER'S RIGHT TO PRIOR NOTICE OF A CHANGE IN THE21
RULES OR POLICIES OF THE OWNER OR OPERATOR .22
(3) P
RIOR TO A TRANSACTION IN VIRTUAL CURRENCY FOR , ON23
BEHALF OF, OR WITH A CUSTOMER , THE OWNER OR OPERATOR OF A24
VIRTUAL CURRENCY KIOSK SHALL DISCLOSE TO THE CUSTOMER IN CLEAR25
AND CONSPICUOUS WRITING IN THE ENGLISH LANGUAGE THE TERMS AND26
CONDITIONS OF THE VIRTUAL CURRENCY TRANSACTION , INCLUDING THE27
079
-5- FOLLOWING:1
(a) T
HE AMOUNT OF THE TRANSACTION ;2
(b) T
HE FEES, EXPENSES, AND CHARGES BORNE BY THE CUSTOMER ,3
INCLUDING APPLICABLE EXCHANGE RATES ;4
(c) T
HE TYPE AND NATURE OF THE TRANSACTION ;5
(d) A
WARNING THAT, ONCE COMPLETED, THE TRANSACTION IS6
IRREVERSIBLE, IF APPLICABLE;7
(e) T
HE DIFFERENCE IN THE VIRTUAL CURRENCY 'S SALE PRICE8
VERSUS THE CURRENT MARKET PRICE ; AND9
(f) O
THER DISCLOSURES THAT ARE CUSTOMARILY GIVEN IN10
CONNECTION WITH A VIRTUAL CURRENCY TRANSACTION .11
(4) T
HE OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK12
SHALL ENSURE THAT EACH CUSTOMER ACKNOWLEDGES RECEIPT OF ALL13
DISCLOSURES REQUIRED UNDER THIS SECTION .14
(5) U
PON THE COMPLETION OF A VIRTUAL CURRENCY15
TRANSACTION, THE OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK16
SHALL PROVIDE TO THE CUSTOMER
AN ELECTRONIC RECEIPT17
CONTAINING THE FOLLOWING INFORMATION :18
(a) T
HE NAME OF AND CONTACT INFORMATION FOR THE OWNER OR19
OPERATOR, INCLUDING A TELEPHONE NUMBER ESTABLISHED BY THE20
OWNER OR OPERATOR TO ANSWER QUESTIONS AND REGISTER COMPLAINTS ;21
(b) T
HE TYPE, VALUE, DATE, AND PRECISE TIME OF THE VIRTUAL22
CURRENCY TRANSACTION , THE TRANSACTION HASH, AND EACH VIRTUAL23
CURRENCY ADDRESS;24
(c) T
HE FEE CHARGED;25
(d) T
HE EXCHANGE RATE, IF APPLICABLE;26
(e) A
STATEMENT OF THE LIABILITY OF THE OWNER OR OPERATOR27
079
-6- FOR NONDELIVERY OR DELAYED DELIVERY OF THE CURRENCY FOR WHICH1
THE CUSTOMER EXCHANGED VIRTUAL CURRENCY ; AND2
(f) A
STATEMENT OF THE REFUND POLICY OF THE OWNER OR3
OPERATOR.4
(6) F
OR A NEW CUSTOMER, THE
MAXIMUM DAILY TRANSACTION5
LIMIT OF A VIRTUAL CURRENCY KIOSK IS ONE THOUSAND DOLLARS PER6
CUSTOMER.7
(7) (a) T
HE OWNER OR OPERATOR OF A VIRTUAL CURRENCY KIOSK8
SHALL, AT THE EXPENSE OF THE OWNER OR OPERATOR , ALLOW A9
CUSTOMER TO CANCEL AND RECEIVE A FULL REFUND FOR A VIRTUAL10
CURRENCY TRANSACTION IF:11
(I) T
HE VIRTUAL CURRENCY TRANSACTION WAS THE CUSTOMER 'S12
FIRST VIRTUAL CURRENCY TRANSACTION ;13
(II) T
HE VIRTUAL CURRENCY TRANSACTION WAS TO A VIRTUAL14
CURRENCY WALLET OR EXCHANGE LOCATED OUTSIDE OF THE UNITED15
S
TATES; AND16
(III) L
AW ENFORCEMENT DETERMINES THAT THE VIRTUAL17
CURRENCY TRANSACTION WAS FRAUDULENT .18
(b) I
F THE CONDITIONS OF SUBSECTION (7)(a) OF THIS SECTION ARE19
MET, THE OWNER OR OPERATOR SHALL ISSUE A FULL REFUND WITHIN20
SEVENTY-TWO HOURS AFTER BEING NOTIFIED THAT THE VIRTUAL21
CURRENCY TRANSACTION WAS FRAUDULENT .22
SECTION 2. Act subject to petition - effective date. This act23
takes effect January 1, 2026; except that, if a referendum petition is filed24
pursuant to section 1 (3) of article V of the state constitution against this25
act or an item, section, or part of this act within the ninety-day period26
after final adjournment of the general assembly, then the act, item,27
079
-7- section, or part will not take effect unless approved by the people at the1
general election to be held in November 2026 and, in such case, will take2
effect on the date of the official declaration of the vote thereon by the3
governor.4
079
-8-