Rule 80-3-1-.07v2. [Effective 7/6/2026] Virtual Currency Kiosks

Rule 80-3-1-.07. [Effective 7/6/2026] Virtual Currency Kiosks

1. (1) Location Reporting: Virtual currency kiosk operators shall submit to the Department on a quarterly basis a report containing location information of each operators' virtual currency kiosks as required by O.C.G.A. § 7-1-699.10(9). Such report shall include:

   1. (a) The street address where each virtual currency kiosk is located;
   2. (b) The name of the business as displayed to the public at the location of each virtual currency kiosk;
   3. (c) The name of the business the operator contracted with to place each virtual currency kiosk at the location; and

   4. (d) The owner of each virtual currency kiosk, if different from the operator.

      Such report shall be in a form as prescribed by the Department and must be uploaded to NMLS under "Document Uploads" as the "Georgia VC Kiosk Location Report" for the applicable quarter. Such report must be filed no later than forty-five (45) days after the end of each calendar quarter.

2. (2) Refunds: Virtual currency kiosk operators shall provide refunds as required by O.C.G.A. § 7-1-699.9. Refunds shall be provided to the consumer in fiat currency. The operator may provide options to the consumer on how to receive the refund, which shall include, at a minimum, electronic or wire transfers and paper check.
3. (3) Blockchain Analysis: Virtual currency kiosk operators must have a contractual relationship with an existing third party blockchain analysis firm. Such relationship must include, at a minimum, a preemptive analysis to identify and prevent high risk and sanctioned virtual currency wallets from being used at virtual currency kiosks. Such relationships shall comply with the requirements of Rule 80-3-1-.06.
4. (4) Policies and Procedures: Virtual currency kiosk operators must include a risk based method of monitoring customers that transact at the operator's virtual currency kiosks on a post-transaction basis to determine compliance with applicable federal and state law. Such policies and procedures shall be tested by the operator at the time of implementation and must be updated and modified as required to ensure that the policies remain effective.

Note: Correction of non-substantive typographical error, duplicate entry of "Amended: F. Jan. 6, 2016; eff. Jan. 26, 2016." deleted from History. Effective Mar. 8, 2016.

Authority: O.C.G.A. §§ 7-1-61, 7-1-690.

History. Original Rule entitled "Administrative Fines and Penalties" adopted. F. July 28, 2003; eff. August 17, 2003.

Amended: F. Sept. 1, 2004; eff. Sept. 21, 2004.

Amended: F. Aug. 15, 2005; eff. Sept. 4, 2005.

Amended: F. Aug. 22, 2006; eff. Sept. 11, 2006.

Amended: F. Aug. 15, 2007; eff. Sept. 4, 2007.

Amended: F. Aug. 4, 2008; eff. Aug. 24, 2008.

Amended: F. Nov. 2, 2010; eff. Nov. 22, 2010.

Amended: F. Nov. 7, 2013; eff. Nov. 27, 2013.

Amended: F. Jun. 10, 2014; eff. Jun. 30, 2014.

Amended: F. Jan. 6, 2016; eff. Jan. 26, 2016.

Amended: F. June 29, 2017; eff. July 19, 2017.

Amended: F. June 27, 2018; eff. July 17, 2018.

Amended: F. Jan. 8, 2021; eff. Jan. 28, 2021.

Amended: F. July 7, 2021; eff. July 27, 2021.

Repealed: F. Dec. 16, 2021; eff. Jan. 5, 2022.

Adopted: New Rule entitled "Virtual Currency Kiosks" adopted. F. June 16, 2026; eff. July 6, 2026.