1. A. An Operator shall prepare an annual report listing the following information for each Kiosk it maintains:

   1. (1) Information sufficient to identify that Kiosk;
   2. (2) The total number of transactions and the total dollar amount of transactions processed by that Kiosk;
   3. (3) If the Kiosk was not operating for the full 12 months covered by the annual report, information sufficient to determine the timeframe in which the Operator operated that Kiosk in the State;
   4. (4) The number of Notices of Fraud received for that Kiosk;
   5. (5) If the Kiosk is a Mobile Kiosk, the location of the Mobile Kiosk at the time of the transaction described in each Notice of Fraud;
   6. (6) The number and dollar amount of Refund Denials issued for that Kiosk;
   7. (7) The number and dollar amount of Fee Refunds issued for that Kiosk; and
   8. (8) The dollar amount of Fees subject to Notices of Fraud for that Kiosk.

2. B. The Annual Report required by this regulation:

   1. (1) Should include information with respect to each Kiosk for the lesser of:

      1. (a) The preceding 12 months; or
      2. (b) The timeframe in which that Kiosk offered Virtual Currency Services in the State; and
   2. (2) May run for any 12 consecutive monthly period ending no earlier than September 1 of the current calendar year.

3. C. The Operator shall submit this annual report to the Commissioner through NMLS:

   1. (1) At the time the Operator renews its Operator registration in accordance with Regulation .03 of this chapter; or
   2. (2) On or before December 31st of the current calendar year if the Operator does not intend to renew its Operator registration in accordance with Regulation .03 of this chapter.

Authority: Financial Institutions Article, §§2-105.1, and 12-1209, Annotated Code of Maryland

Effective date:

Regulations .01—.10 adopted as an emergency provision effective December 5, 2025 (52:26 Md. R. 1306); adopted permanently effective March 30, 2026 (53:6 Md. R. 286)