Alaska 34th Alaska State Legislature Status: Enacted Bipartisan · 12 R · 9 D · 1 I cosponsors

SB 249 — An Act relating to virtual currency kiosks; relating to transactions involving virtual currency; relating to unfair trade or deceptive acts or practices; and providing for an effective date.

Last action — (S) EFFECTIVE DATE(S) OF LAW 10/1/26

  1. ✓
    Introduced
  2. ✓
    In Committee
  3. ✓
    Passed Senate
  4. ✓
    Passed House
  5. ✓
    To Executive
  6. 6
    Enacted

This bill has been enacted into law. Introduced February 18, 2026. Enacted.

Signed by Governor Mike Dunleavy (Republican) on July 16, 2026.

Odds of enactment

High chance

Based on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.

Upgrade to see the exact probability and what's driving it.

A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.

Prognosis

Likely to advance 98% · high confidence
  • Enacted

    Current position in the legislative process.

  • 22 sponsors

    1 primary, 21 co-sponsors signed on.

  • Bipartisan support

    Sponsored across 3 parties (12 R · 9 D · 1 I) — cross-party backing.

  • Cleared a recorded vote

    Passed 3 recorded votes so far.

Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.

In plain language

The bill regulates transactions involving virtual currency through kiosks.

This legislation establishes guidelines for virtual currency kiosks and addresses potentially unfair trade practices. It aims to ensure transparency and protect consumers in virtual currency transactions.

What this means for you
  • Consumers: This means consumers will have clearer protections and guidelines when using virtual currency kiosks.

Bill Text

What changed in the latest version

333 added · 305 removed

Plain-language change summary

The updated version of SB 249 has added a specific requirement for virtual currency kiosk operators to obtain a money transmission license before they can conduct transactions or present themselves as offering such services. Additionally, it mandates that these operators must register and receive approval from the relevant department before setting up a kiosk in Alaska. This change is important because it increases oversight of virtual currency operations, aiming to protect consumers from potentially deceptive practices in the rapidly growing digital currency space.

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34-LS1465\A SENATE BILL NO.
LAWS OF ALASKA Source Chapter No.
249 IN THE LEGISLATURE OF THE STATE OF ALASKA THIRTY-FOURTH LEGISLATURE - SECOND SESSION BY SENATORS TILTON, Cronk, Myers, Dunbar, Claman, Merrick, Bjorkman, Tobin, Kawasaki, Giessel, Gray-Jackson, Rauscher, Kaufman, Stedman, Stevens Introduced:
HCS CSSB 249(L&C) _______ AN ACT Relating to virtual currency kiosks;
2/18/26 Referred:
Labor & Commerce, Judiciary A BILL FOR AN ACT ENTITLED "An Act relating to virtual currency kiosks;
and relating to unfair trade or deceptive acts or practices." BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
relating to unfair trade or deceptive acts or practices;
* Section 1.
and providing for an effective date.
_______________ BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:
THE ACT FOLLOWS ON PAGE 1 Enrolled SB 249 AN ACT Relating to virtual currency kiosks;
relating to transactions involving virtual currency;
relating to unfair trade or deceptive acts or practices;
and providing for an effective date.
_______________ * Section 1.
Sec.
-1- Enrolled SB 249 Sec.
(a) Within 45 days after the end of each calendar SB0249A -1- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A quarter, a virtual currency kiosk operator shall submit a quarterly report to the department for each location in the state at which the person operates a virtual currency kiosk.
(a) Within 45 days after the end of each calendar quarter, a virtual currency kiosk operator shall submit a quarterly report to the department for each location in the state at which the person operates a virtual currency kiosk.
(3) the total number and value of virtual currency transactions the virtual currency kiosk operator conducted through virtual currency kiosks in the state;
(3) thetotal numberand valueofvirtual currency transactions thevirtual currency kiosk operator conducted through virtual currency kiosks in the state;
SB 249 -2- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (6) contact details for the virtual currency kiosk operator's compliance officer;
Enrolled SB 249 -2- (6) contact details for the virtual currency kiosk operator's compliance officer;
(b) When a user engages with a virtual currency kiosk, the virtual currency kiosk operator shall obtain acknowledgment of receipt of all disclosures required under this section.
(b) Whenauserengages withavirtualcurrencykiosk,thevirtualcurrencykiosk operator shall obtain acknowledgment of receipt of all disclosures required under this section.
If someone asked you to deposit money in this machine or is on the telephone with you and claims to be a friend or family member, government agent, computer software representative, bill collector, law enforcement officer, or anyone you do not know personally IMMEDIATELY STOP THIS TRANSACTION and contact your local SB0249A -3- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A law enforcement and the kiosk operator.
If someone asked you to deposit money in this machine or is on the telephone with you and claims to be a friend or family member, government agent, computer software representative, bill collector, law enforcement officer, or anyone you do not know personally IMMEDIATELY STOP THIS TRANSACTION and contact your local law enforcement and the kiosk operator.
NEVER SEND MONEY to someone you don't know;
NEVER -3- Enrolled SB 249 SEND MONEY to someone you don't know;
(6) the exchange rate used between the virtual currency and United SB 249 -4- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A States dollar;
(6) the exchange rate used between the virtual currency and United States dollar;
(8) any additional information the department requires by regulation.
Enrolled SB 249 -4- (8) any additional information the department requires by regulation.
(a) A virtual currency kiosk operator or SB0249A -5- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A their authorized delegate shall verify the identity of a user before accepting payment from the user for a virtual currency transaction.
(a) A virtual currency kiosk operator or their authorized delegate shall verify the identity of a user before accepting payment from the user for a virtual currency transaction.
A virtual currency kiosk operator or their authorized delegate shall obtain a copy of a government-issued identification card that identifies the user and shall collect additional user information, including the user's name, date of birth, telephone number, address, and electronic mail address, before accepting a payment from the user at a virtual currency kiosk.
A virtual currency kiosk operator or -5- Enrolled SB 249 their authorized delegate shall obtain a copy of a government-issued identification card that identifies the user and shall collect additional user information, including the user's name, date of birth, telephone number, address, and electronic mail address, before accepting a payment from the user at a virtual currency kiosk.
(a) For cases related to fraud, a virtual currency kiosk operator shall issue a refund to a user in the full amount of all transactions paid by the user at the time of the transaction, including transaction charges, regardless of any acknowledgment the user may have made before finalizing the transactions.
For cases related to fraud, a virtual currency kiosk operator shall issue a refund to a user in the full amount of all transactions paid by the user at the time of the transaction, including transaction charges, regardless of any acknowledgment the user may have made before finalizing the transactions.
and SB 249 -6- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (3) within 120 days after contacting the virtual currency kiosk operator, submitted to the virtual currency kiosk operator a police report, report by the department, or a sworn statement detailing the fraudulent nature of the transaction.
and (3) within 120 days after contacting the virtual currency kiosk operator, submitted to the virtual currency kiosk operator a police report, report by the department, or a sworn statement detailing the fraudulent nature of the transaction.
(b) If the conditions for a refund under this section are met, the virtual currency kiosk operator shall issue a full refund within 72 hours after receiving a copy of the police report, report by the department, or sworn statement.
For all communication between the virtual currency kiosk operator and the user, the virtual currency kiosk operator shall provide written notices in both English and Spanish and communicate with the user in their preferred language through staff, oral interpretation services, or auxiliary aids and services.
For all communication between the virtual Enrolled SB 249 -6- currency kiosk operator and the user, the virtual currency kiosk operator shall provide written notices in both English and Spanish and communicate with the user in their preferred language through staff, oral interpretation services, or auxiliary aids and services.
The use of alternative products, including online purchasing or over- the-counter platforms, may not be employed to circumvent or exceed the limits in this section.
Theuse ofalternative products, including onlinepurchasing orover-the- counter platforms, may not be employed to circumvent or exceed the limits in this section.
A virtual currency kiosk operator may not collect fees from a user for a transaction that total more than three percent of the transaction value in United States dollars or the equivalent in virtual currency.
A virtual currency kiosk operator may not collectfeesfromauserforatransactionthattotalmorethan10percentofthetransaction value in United States dollars or the equivalent in virtual currency.
and 10:00 p.m.
and10:00 p.m.
Alaska time.
Alaskatime.Acustomerservicetoll-freenumbermust bedisplayed on the virtual currency kiosk or the virtual currency kiosk screen.
A customer service toll-free number must be displayed on the virtual currency kiosk or the virtual currency kiosk screen.
The dedicated line SB0249A -7- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A must be an electronic mail address or telephone number based in the United States.
The dedicated line must be an electronic mail address or telephone number based in the United States.
(a) A virtual currency kiosk operator that violates AS 06.55.120 - 06.55.195 commits an unfair trade or deceptive act or practice in violation of AS 45.50.471.
(a) A virtual currency kiosk operator that violates -7- Enrolled SB 249 AS 06.55.120 - 06.55.195 commits an unfair trade or deceptive act or practice in violation of AS 45.50.471.
(4) "user" means an individual or entity that initiates, authorizes, or SB 249 -8- SB0249A New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A completes a transaction involving virtual currency through a virtual currency kiosk for the purpose of purchasing, selling, transferring, or otherwise exchanging virtual currency;
(4) "user" means a person that initiates, authorizes, or completes a transaction involving virtual currency through a virtual currency kiosk for the purpose of purchasing, selling, transferring, or otherwise exchanging virtual currency;
(5) "virtual currency" means an electronic asset that confers economic, proprietary, or access rights or powers and is recorded using cryptographically secured distributed ledger technology, or any similar analogue;
(5) "virtual currency address" means an alphanumeric identifier associated with a virtual currency wallet that identifies the location to which a virtual currency transaction can be sent;
(6) "virtual currency address" means an alphanumeric identifier associated with a virtual currency wallet that identifies the location to which a virtual currency transaction can be sent;
(6) "virtual currency kiosk" means an electronic terminal that enables the virtual currency kiosk operator to facilitate a virtual currency exchange by connecting directly with another person that exchanges virtual currency, drawing upon Enrolled SB 249 -8- virtual currency in the possession of the electronic terminal's operator, or by another method;
(7) "virtual currency kiosk" means a person acting on the behalf of, or a mechanical agent of, the virtual currency kiosk operator to enable the virtual currency kiosk operator to facilitate the exchange of virtual currency for money, bank credit, or other virtual currency by connecting directly to a separate virtual currency exchange, drawing upon virtual currency in the possession of the electronic terminal's operator, or by another method;
(7) "virtual currency kiosk operator" means a person that engages in virtual currency business activity by way of a virtual currency kiosk located in the state or a person that owns, operates, manages, or provides custodial or noncustodial services for a virtual currency kiosk located in the state through which virtual currency business activity is offered;
(8) "virtual currency kiosk operator" means a person that engages in virtual currency business activity by way of a virtual currency kiosk located in the state or a person that owns, operates, manages, or provides custodial or noncustodial services for a virtual currency kiosk located in the state through which virtual currency business activity is offered;
(8) "virtual currency kiosk transaction" means a transaction conducted or performed, in whole or in part, through a virtual currency kiosk or a transaction made at a virtual currency kiosk to purchase virtual currency with United States dollars or to sell virtual currency for United States dollars;
(9) "virtual currency kiosk transaction" means a transaction conducted or performed, in whole or in part, by electronic means through a virtual currency kiosk or a transaction made at a virtual currency kiosk to purchase virtual currency with United States dollars or to sell virtual currency for United States dollars;
(9) "virtual currency wallet" means a software application or other mechanism providing a means to hold the keys necessary to access and transfer virtual currency.
Show all 70 changed rows (30 more)
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(10) "virtual currency wallet" means a software application or other mechanism providing a means to hold the keys necessary to access and transfer virtual currency.
SB0249A -9- SB 249 New Text Underlined [DELETED TEXT BRACKETED] 34-LS1465\A (15) "money transmission" (A) means (i) selling or issuing payment instruments or stored value, or receiving money or monetary value for transmission;
(15) "money transmission" (A) means (i) selling or issuing payment instruments or stored value to a person located in this state;
or (ii) operating a virtual currency kiosk;
(ii) [, OR] receiving money or monetary value for transmission to the state, from the state, or within the state;
(B) [, BUT] does not include the provision solely of delivery, online services, telecommunications services, or network access;
or (iii) operating a virtual currency kiosk;
(B) [, BUT] does not mean [INCLUDE] the provision solely of [DELIVERY,] online services, telecommunications services, or network access;
AS 06.55.990 is amended by adding new paragraphs to read:
(25) "control of virtual currency," when used in reference to a transaction or relationship involving virtual currency, means the power to execute unilaterally or prevent indefinitely a virtual currency transaction;
-9- Enrolled SB 249 (26) "in this state" means at a physical location within this state for a transaction requested in person;
(27) "virtual currency" (A) means a digital representation of value that (i) is used as a medium of exchange, unit of account, or store of value;
and (ii) is not money, whether or not denominated in money;
(B) does not mean (i) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with themerchant formoney,bank credit, orvirtual currency;
or (ii) adigitalrepresentationofvalueissuedbyoron behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform;
(28) "virtual currency administration" means issuing virtual currency with the authority to redeem the currency for money, bank credit, or other virtual currency;
(29) "virtual currency business activity" means (A) exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor;
(B) holding electronic precious metals or electronic certificates representing interests in precious metals on behalf of another person or issuing shares or electronic certificates representing interests in precious metals;
or (C) exchanging one or more digital representations of value used within one or more online games, game platforms, or family of games for (i) virtual currency offered by or on behalf of the same publisher from which the original digital representation of value was received;
or Enrolled SB 249 -10- (ii) money or bank credit outside the online game, game platform, or family of games offered by or on behalf of the same publisher from which the original digital representation of value was received;
(30) "virtual currency control services vendor" means a person that has control of virtual currency solely under an agreement with a person that, on behalf of another person, assumes control of virtual currency;
(31) "virtual currency exchange" means to (A) assume control of virtual currency from or on behalf of a person, at least momentarily;
(B) sell, trade, or convert (i) virtual currency for money, bank credit, or one or more forms of virtual currency or money;
or (ii) bank credit for one or more forms of virtual currency;
(32) "virtual currency transfer" means to assume control of virtual currency from or on behalf of a person and to (A) credit the virtual currency to the account of another person;
(B) move the virtual currency from one account of a person to another account of the same person;
or (C) relinquish control of virtual currency to another person.
* Sec.
5.
SB 249 -10- SB0249A New Text Underlined [DELETED TEXT BRACKETED]
* Sec.
6.
This Act takes effect October 1, 2026.
-11- Enrolled SB 249
View plain text versions (6)

Action History

  1. (S) EFFECTIVE DATE(S) OF LAW 10/1/26

  2. (S) LAW W/O GOV SIGNATURE 6/30 CH 50 SLA 26

  3. (S) 3:55 P.M. 6/15/26 Transmitted to Governor

  4. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  5. (S) CONCUR AM OF (H) Y20 N-

  6. (S) CONCUR MESSAGE READ AND TAKEN UP

  7. (H) VERSION: HCS CSSB 249(L&C)

  8. (H) TRANSMITTED TO (S) AS AMENDED

  9. (H) VANCE

  10. (H) CROSS SPONSOR(S): GRAY, HALL, TOMASZEWSKI, JOSEPHSON, GALVIN, MCCABE, MEARS,

  11. (H) EFFECTIVE DATE(S) SAME AS PASSAGE

  12. (H) PASSED Y40

  13. (H) READ THE THIRD TIME HCS CSSB 249(L&C)

  14. (H) ADVANCED TO THIRD READING UC

  15. (H) L&C HCS ADOPTED UC

  16. (H) READ THE SECOND TIME

  17. (H) RULES TO CALENDAR 5/19/2026

  18. (H) FN1: ZERO(CED)

  19. (H) AM: SADDLER

  20. (H) DP: FRIER, COULOMBE, CARRICK, FIELDS, HALL

  21. (H) L&C RPT HCS(L&C) 5DP 1AM

  22. (H) Moved HCS CSSB 249(L&C) Out of Committee -- Recessed to 08:00 am 5/14--

  23. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  24. (H) L&C

  25. (H) READ THE FIRST TIME - REFERRALS

  26. (S) VERSION: CSSB 249(JUD) AM

  27. (S) TRANSMITTED TO (H)

  28. (S) EFFECTIVE DATE(S) SAME AS PASSAGE

  29. (S) PASSED Y20 N-

  30. (S) STEVENS

  31. (S) COSPONSOR(S): KAWASAKI, GIESSEL, GRAY-JACKSON, RAUSCHER, KAUFMAN, STEDMAN,

  32. (S) AUTOMATICALLY IN THIRD READING

  33. (S) AM NO 1 ADOPTED UC

  34. (S) RETURN TO SECOND FOR AM 1 UC

  35. (S) READ THE THIRD TIME CSSB 249(JUD)

  36. (H) <Bill Hearing Canceled> -- Delayed to a Call of the Chair --

  37. (H) LABOR & COMMERCE at 03:15 PM BARNES 124

  38. (S) COSPONSOR(S): CLAMAN, MERRICK, BJORKMAN, TOBIN

  39. (S) ADVANCED TO THIRD READING 5/12 CAL

  40. (S) JUD CS ADOPTED UC

  41. (S) READ THE SECOND TIME

  42. (S) RULES TO CALENDAR 5/11/2026

  43. (S) FN1: ZERO(CED)

  44. (S) NR: TOBIN

  45. (S) DP: CLAMAN, TILTON, KIEHL, STEVENS

  46. (S) JUD RPT CS 4DP 1NR TECHNICAL TITLE CHANGE

  47. (S) Moved CSSB 249(JUD) Out of Committee

  48. (S) JUDICIARY at 01:30 PM BUTROVICH 205

  49. (S) Heard & Held

  50. (S) JUDICIARY at 01:30 PM BUTROVICH 205

  51. (S) Heard & Held

  52. (S) JUDICIARY at 01:30 PM BUTROVICH 205

  53. (S) COSPONSOR(S): DUNBAR

  54. (S) FN1: ZERO(CED)

  55. (S) AM: DUNBAR, MERRICK

  56. (S) NR: YUNDT, GRAY-JACKSON

  57. (S) DP: BJORKMAN

  58. (S) L&C RPT CS 1DP 2NR 2AM SAME TITLE

  59. (S) Moved CSSB 249(L&C) Out of Committee

  60. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  61. (S) Heard & Held

  62. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  63. (S) Heard & Held

  64. (S) LABOR & COMMERCE at 01:30 PM BELTZ 105 (TSBldg)

  65. (S) COSPONSOR(S): CRONK, MYERS

  66. (S) L&C, JUD

  67. (S) READ THE FIRST TIME - REFERRALS

Sponsors

Sponsorship breakdown

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1 sponsors · 21 co-sponsors · 43 not signed on

"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

Whip count is in markup. Polling the chamber and every recorded vote this session. Only the first open is slow. It’s instant for you after this. Calling the roll · Tallying · Engrossing

Votes

Passed 20 Yea · 0 Nay
Party YeaNayPresentNot Voting
R 11000
D 9000
Total 20000
% of votes cast 100%0%0%0%
How each member voted (20)

Official roll call →

Passed 40 Yea · 0 Nay
Party YeaNayPresentNot Voting
R 20000
D 14000
N 5000
Unaffiliated 1000
Total 40000
% of votes cast 100%0%0%0%
How each member voted (40)

Official roll call →

Passed 20 Yea · 0 Nay
Party YeaNayPresentNot Voting
R 11000
D 9000
Total 20000
% of votes cast 100%0%0%0%
How each member voted (20)

Official roll call →

Subjects

Cross-referencing the record. Reading this bill against every other bill in the corpus by meaning, not keywords. Only the first open is slow. It’s instant for you after this. Matching · Ranking · Engrossing

Frequently asked questions

Who sponsors SB 249?
SB 249 is sponsored by Donna Mears (D), Kevin McCabe (R), Alyse Galvin (N), Andy Josephson (D), Frank Tomaszewski (R), Carolyn Hall (D), Andrew Gray (D), Gary Stevens (R), Bert Stedman (R), James Kaufman (R), Elvi Gray-Jackson (D), Cathy Giessel (R), Scott Kawasaki (D), Löki Tobin (D), Jesse Bjorkman (R), Kelly Merrick (R), Matt Claman (D), Forrest Dunbar (D), Robert Myers (R), Mike Cronk (R), Cathy Tilton (R), and George Rauscher (R).
What is the current status of SB 249?
This bill has been enacted into law. Introduced February 18, 2026. Enacted.
Where can I track SB 249?
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