S1359 Statement of Purpose / Fiscal Note

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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.

REVISED

                                           STATEMENT OF PURPOSE
                                                     RS33552 / S1359
The purpose of this legislation is to protect consumers from financial exploitation and fraudulent activities.
Virtual currency kiosks have increasingly been used in scams targeting Idaho consumers, particularly older
adults, due to the confusing and irreversible nature of virtual currency transactions. This bill strengthens
consumer protections while allowing legitimate virtual currency businesses to operate responsibly within the
state. Without this legislation, all legitimate kiosks risk losing the credibility to continue operating within legal
and ethical boundaries.

The bill requires kiosk operators to register with the state, provide clear fee and exchange rate disclosures,
post fraud warnings, maintain transaction records, and implement reasonable transaction limits and basic
fraud-prevention safeguards. The measure promotes public safety, supports law enforcement investigations,
protects vulnerable consumers, and reduces financial exploitation without prohibiting lawful virtual currency
kiosk activity.

                                                     FISCAL NOTE
This legislation is not expected to have a significant impact on the state general fund. Any administrative costs
associated with registration and oversight are anticipated to be minimal and may be offset by registration or
licensing fees. No additional appropriations are anticipated.

Contact:
    Senator James D. Ruchti
    (208) 332-1079
    Representative Dustin Manwaring
    (208) 332-1411

DISCLAIMER: This statement of purpose and fiscal note are a mere attachment to this bill and prepared by a proponent
of the bill. It is neither intended as an expression of legislative intent nor intended for any use outside of the legislative
process, including judicial review (Joint Rule 18).

Statement of Purpose / Fiscal Note                                          Bill SOP/FN REVISED: 03/12/2026, 2:51 PM