United States of America: Bill amending Financial Code to include Digital Financial Asset Transaction Kiosks was signed by California Governor (Bill No. SB-401)

On 13 October 2023, the Digital Financial Asset Transaction Kiosks Law (SB 401) was signed by the Governor. The Bill introduces new rules for operators of digital financial asset transaction kiosks, devices that accept or dispense cash in exchange for digital financial assets. The Bill applies to any person owning, operating, or managing such kiosks in California and imposes obligations, including a daily transaction limit of USD 1,000 per customer. It also mandates a cap on charges set at either USD 5 or 15% of the transaction value, mandatory pre-transaction disclosures in English and the primary advertising language, and the provision of detailed receipts.