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Bill

SB 975

Relating to: virtual currency kiosks.

2025-2026 Regular Session Introduced by Jesse James

SB 975 would establish licensing and operational standards for virtual currency kiosks in Wisconsin, though it failed to pass the legislature in March 2026.

Failed to pass pursuant to Senate Joint Resolution 1
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Bill Summary · SB 975

Legislative bill overview

SB 975 addresses the regulation and operation of virtual currency kiosks (ATM-like machines that facilitate cryptocurrency transactions) in Wisconsin. The bill establishes licensing requirements, operational standards, and compliance measures for entities seeking to operate these kiosks within the state.

Why is this important

Virtual currency kiosks have proliferated in many states with minimal oversight, creating potential risks for consumer fraud, money laundering, and financial exploitation. Wisconsin's proposed framework would establish clear regulatory boundaries around these services while determining whether operators need licensing, capital requirements, and transaction monitoring—directly affecting both consumer protection and business operations.

Potential points of contention

  • Regulatory burden vs. innovation: Strict licensing and compliance requirements could stifle emerging cryptocurrency businesses or drive operations out-of-state, versus necessary consumer safeguards
  • KYC/AML concerns: Tension between requiring know-your-customer protocols (combating illegal finance) and cryptocurrency users' privacy expectations
  • Jurisdiction and enforcement: Questions about whether Wisconsin can effectively regulate kiosks that enable borderless transactions and whether federal oversight should take precedence

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

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