Licensing of Virtual Currency Kiosks Under SF 449: Guidance for Iowa Consumers and Businesses

Bitcoin Research — Law, Regulation, Markets & Origins (2026)

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Ia

2025-07-01

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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.

I n wA,M                          I
                                          Division of Banking

   GOVERNOR KIM REYNOLDS                   JAMES E. JOHNSON, SUPERINTENDENT OF BANKING
   LT. GOVERNOR CHRIS COURNOYER

                                                               July 1, 2025

         Licensing of Virtual Currency Kiosks Under SF 449: Guidance for Iowa Consumers and
         Businesses

         The Iowa Legislature recently enacted SF 449, legislation that establishes specific licensing and
         compliance requirements for the operators of digital financial asset transaction kiosks.1 Governor
         Reynolds signed the bill on May 19, 2025, and was effective immediately. The Iowa Division of
         Banking ("Division") offers the following summary of pe1iinent provisions for the benefit of all
         operators of digital financial asset transaction kiosks in Iowa, whether licensed prior to the
         enactment of this legislation or not, to assist with compliance with these new requirements.

                   • Requires all people engaging in digital financial asset transactions to maintain a license
                     to engage in the business of money transmission under Iowa Code section 533C.301.
                   • Establishes daily ($1,000) and monthly limits on transaction amounts with each
                     consumer.
                   • Caps fees for transactions at digital financial asset transaction kiosks.
                   • Requires clear and conspicuous disclosures prior to every digital financial asset
                     transaction to increase awareness of potential scams.
                   • Requires operators provide a receipt for each transaction.
                   • Entitles consumers to refunds if reported within 90 days.
                   • Establishes specific requirements for kiosk operators, including repo1iing to the Iowa
                     Division of Banking the physical location of each kiosk in the state so that this
                     information may be posted on the Division's website.
                   • The email address [email protected] has been set up to provide a list of the street
                     address locations of all digital financial asset transaction kiosks. An operator shall
                     provide the division with updates to the list within thirty calendar days of any change
                     to the list.

         The Division encourages licensees or other operators of digital financial asset transaction kiosks
         in Iowa to reach out with any questions regarding compliance with the provisions of SF 449. Please
         direct any questions to the following email address: [email protected].

         Sincerely,

       �p�
         Craig Christensen
         Finance Bureau Chief

1 These kiosks are also sometimes referred to as "Bitcoin ATMs" or "BTMs" despite the fact that many of these kiosks
facilitate the purchase or transfer ofvittual currencies other than Bitcoin.

         200 East Grand, STE 300           Des Moines, IA 50309                515-281-4014          idob.iowa.gov