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Bill

SB 980

Consumer protection: other; cryptocurrency kiosks; prohibit the installation and operation of. Creates new act.

2025-2026 Regular Session Introduced by Stephanie Chang and 5 co-sponsors

The bill would ban all cryptocurrency kiosks in Michigan, creating a new act to prohibit installation, operation, and maintenance to protect consumers.

REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
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WeVote Research Nonpartisan
Bill Summary · SB 980

Bill overview

SB 980 (2025-2026) proposes a new act to prohibit the installation and operation of cryptocurrency kiosks in Michigan. The bill is framed within consumer protection and would create a regulatory regime to ban these machines.

Main purpose and intent

  • To prohibit the installation, maintenance, and operation of cryptocurrency kiosks within the state.
  • To address consumer protection concerns related to cryptocurrency vending machines, potentially including issues such as financial risk, disclosure, and fraud prevention.
  • To establish a standalone legal framework (a new act) governing the prohibition.

Key provisions and changes

  • Prohibition: The bill would make it unlawful to install, operate, or maintain any cryptocurrency kiosk within Michigan. This encompasses kiosks that allow customers to buy or exchange cryptocurrency using cash or other forms of payment.
  • Regulatory framework: Creation of a new act to enforce the prohibition, including definitions, enforcement mechanisms, and penalties for violations.
  • Scope: The prohibition likely covers kiosks located in commercial, retail, or public settings, though specific geographic or business-type limits would be detailed in the act.
  • Enforcement and penalties: The act would specify who may enforce the prohibition (e.g., state agencies or local authorities) and the penalties for violations (e.g., fines, seizure, or other corrective actions). The exact amounts and enforcement procedures would be set forth in the bill.
  • Consumer protection aims: By barring kiosks, the bill intends to reduce consumer exposure to potential risks associated with standalone crypto transactions, including volatility, cybersecurity concerns, and the lack of reliable protections typical of traditional financial services.

Who and what would be affected

  • Entities operating or seeking to install cryptocurrency kiosks in Michigan.
  • Retailers, venues, or property owners housing or considering kiosks for customer use.
  • Consumers who might use or encounter cryptocurrency kiosks would be affected by the absence of such machines in the market.
  • State and local law enforcement and regulatory agencies tasked with enforcing consumer protection and business operation standards.

Procedural and timeline aspects

  • Introduction: May 19, 2026.
  • Referral: Referred to the Senate Committee on Finance, Insurance, and Consumer Protection.
  • Sponsorship: Primary sponsor is Senator Jeff Irwin, with six co-sponsors (Stephanie Chang, Sue Shink, Veronica Klinefelt, Erika Geiss, Dayna Polehanki, and Jeff Irwin).
  • Next steps: The committee will consider the bill, may hold hearings, and could amend the measure before a potential floor vote. If advanced, it would move through the Senate and then, likely, to the House for consideration, with potential timelines dependent on committee schedules and legislative priorities.

Potential implications

  • Market impact: A statewide ban would prevent new and existing crypto kiosks from operating in Michigan, limiting convenience-based access to cryptocurrencies for consumers.
  • Regulatory clarity: The act would provide a clear legal standard about the illegality of kiosk-based crypto transactions, aiding businesses in planning and compliance.
  • Consumer protection rationale: Aligns with efforts to shield consumers from certain types of crypto‑related risks at point-of-sale or self-service terminals.

Note: Specific definitions, enforcement details, penalties, and any exemptions would be outlined in the bill’s text. For a complete understanding, reviewing the final enacted language and any fiscal impact statements from the committee would be recommended.

Compiled from official sources — confirm details with the bill’s official record.

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