North Carolina HB 920: Transylvania Fire Department Signal/Funds.

Bill Text

GENERAL ASSEMBLY OF NORTH CAROLINA
SESSION 2025

SESSION LAW 2026-45
HOUSE BILL 920

*H920-v-6*
AN ACT TO ENACT THE VIRTUAL CURRENCY KIOSK CONSUMER PROTECTION
ACT.

The General Assembly of North Carolina enacts:

SECTION 1. Chapter 53 of the General Statutes is amended by adding a new Article
to read:
"Article 26.
"Virtual Currency Kiosk Consumer Protection Act.
"§ 53-441. Short title.
This Article may be cited as the Virtual Currency Kiosk Consumer Protection Act.
"§ 53-442. Definitions.
The following definitions apply in this Article:
(1) Bank Secrecy Act. – The Bank Secrecy Act, 31 U.S.C. § 5311, et seq., and its
implementing rules and regulations, as amended and recodified from time to
time.
(2) Blockchain. – A distributed digital ledger or database which is chronological,
consensus-based, decentralized, and mathematically verified in nature.
(3) Blockchain analytics. – A software service that uses data from various virtual
currencies and their applicable blockchains to provide a risk rating specific to
digital wallet addresses from users of virtual currency kiosks.
(4) Commissioner. – The Commissioner of Banks of the State of North Carolina.
(5) Digital wallet. – Hardware or software that enables individuals to store and
use virtual currency.
(6) Digital wallet address. – An alphanumeric identifier representing a destination
on a blockchain for a virtual currency transfer that is associated with a digital
wallet.
(7) Dollar. – The United States dollar.
(8) Existing virtual currency customer. – A person whose first transaction with a
licensee to transmit virtual currency occurred more than 30 days ago.
(9) Fiat currency. – A medium of exchange that is authorized or adopted by the
United States government as part of its currency and is not backed by a
commodity.
(10) Individual. – A natural person.
(11) New virtual currency customer. – A person that has no previous transactions
with a licensee to transmit virtual currency or a person whose first transaction
with a licensee to transmit virtual currency occurs within the past 30 days.
(12) NMLS. – The Nationwide Multistate Licensing System and Registry
developed by the Conference of State Bank Supervisors and the American
Association of Residential Mortgage Regulators and owned and operated by
the State Regulatory Registry, LLC, or any successor or affiliated entity, for
the licensing and registration of persons in financial services industries.

Page 2 Session Law 2026-45 House Bill 920
(13) Prevailing market value. – The value, in dollars, to buy or sell a particular
virtual currency, as applicable, at the time of the transaction, as quoted on a
virtual currency exchange operated by a licensee based in the United States
and having sufficient transaction volume to reflect the prevailing market price
of the virtual currency.
(14) Spread. – The amount, in dollars, of any difference between the dollar price
of the virtual currency that is charged to the customer to buy, sell, exchange,
swap, or convert the virtual currency and the prevailing market value of the
virtual currency at the time of the transaction.
(15) United States PATRIOT Act. – The Uniting and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism
Act of 2001 and its implementing rules and regulations, as amended and
recodified from time to time.
(16) Virtual currency. – Any 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 includes digital units of
exchange that (i) have a centralized repository or administrator, (ii) are
decentralized and have no centralized repository or administrator, or (iii) may
be created or obtained by computing or manufacturing effort. Virtual currency
does not include digital units that are used (i) solely within online gaming
platforms with no market or application outside of the gaming platforms or
(ii) exclusively as part of a consumer affinity or rewards program and can be
applied solely as payment for purchases with the issuer or other designated
merchants but cannot be converted into or redeemed for fiat currency.
(17) Virtual currency kiosk. – Any fully automated electronic machine owned,
operated, or used by a virtual currency kiosk operator that enables the owner
or operator to facilitate the transfer of fiat currency to a public key that is
recorded on the blockchain, as directed by the customer.
(18) Virtual currency kiosk operator. – A corporation, limited liability company,
limited liability partnership, or foreign entity qualified to do business in the
State that operates a virtual currency kiosk within the State. The term does not
include a business location, property owner, lessee, or other person that
provides space for a virtual currency kiosk manufactured or distributed by a
third party.
"§ 53-443. Confidentiality.
(a) Except as otherwise provided in this section, all information or reports