Consumer protection: other; cryptocurrency kiosks; prohibit the installation and operation of. Creates new act. TIE BAR WITH: HB 5987'26

2025-2026 Regular Session Introduced by Tyrone Carter and 9 co-sponsors

The bill would ban installing and operating cryptocurrency kiosks in Michigan to protect consumers.

bill electronically reproduced 05/19/2026

#consumerprotection:other #gaming:lottery

Summary of HB 5986 (2025-2026) – Michigan

Purpose and intent

HB 5986 would prohibit the installation and operation of cryptocurrency kiosks in Michigan. It creates a new act focused on consumer protection by restricting the use of kiosks that enable cryptocurrency transactions. The bill ties or references HB 5987 in some manner (TIE BAR WITH: HB 5987'26), indicating related or companion provisions in another bill, though details are not provided here.

Key provisions

Prohibition on cryptocurrency kiosks: The bill would ban the installation and operation of cryptocurrency kiosks within the state. This includes kiosks that facilitate the exchange or transfer of digital currencies to and from users.

New act framework: Establishes a standalone legislative framework (a new act) to govern the prohibition, enforcement mechanisms, and any associated regulatory requirements.

Consumer protection emphasis: The measure centers on safeguarding consumers from potential risks associated with cryptocurrency kiosks, such as fraud, lack of regulatory oversight, or unclear terms of service.

Who or what would be affected

Owners and operators of cryptocurrency kiosks in Michigan would be barred from installing or operating such devices.

Businesses considering deploying crypto kiosks would be restricted under this prohibition.

Consumers who might otherwise use or encounter cryptocurrency kiosks would be indirectly protected from the associated risks the bill seeks to mitigate.

Regulatory and law enforcement bodies in Michigan would be responsible for enforcing the prohibition and handling violations.

Procedural and timeline aspects

Introduction and referral: The bill was introduced on May 19, 2026, by Rep. Matt Koleszar and referred to the Committee on Regulatory Reform.

Status: In the early stages of consideration (read a first time, referred to committee). No floor action or final passage information provided in the current summary.

Sponsorship: A broad group of co-sponsors is listed, indicating cross-party or widespread support for the measure within the legislative chamber.

Potential impacts and considerations

Market impact: The prohibition would prevent the deployment of crypto kiosks in Michigan, potentially reducing consumer access to convenient crypto exchange options and affecting businesses that planned to install such kiosks.

Consumer protection: The bill aims to reduce consumer risk associated with unregulated or less-transparent crypto transactions at kiosks.

Regulatory clarity: If enacted, the new act would provide clear statutory authority to regulate or prohibit kiosks and to define penalties for violations.

Interaction with HB 5987: The referenced tie bar suggests that related provisions—possibly addressing complementary regulatory or enforcement aspects—may be enacted concurrently. The full effect would depend on the content of HB 5987'26 and how the two bills interrelate.

Note

As of the current information, the bill is in early legislative stages with no final text publicly available beyond the intent to ban cryptocurrency kiosks. Readers should monitor for amended language, committee reports, and potential floor action to understand the complete scope, exemptions (if any), penalties, enforcement mechanisms, and effective dates once formal details are published.