§ 53-457.  (Effective January 1, 2027) Virtual currency customers; daily limit; refunds; cancellation; fees.

(a) Daily Limit. - A virtual currency kiosk operator shall impose a daily transaction limit equivalent to the following dollar values for transmissions of virtual currency through one or more of the virtual currency kiosk operator's kiosks:

(1) Two thousand dollars ($2,000) for a new virtual currency customer.

(2) Five thousand dollars ($5,000) for an existing virtual currency customer.

(b) Refunds. - A virtual currency kiosk operator shall provide refunds as follows:

(1) The virtual currency kiosk operator shall refund the full dollar amount deposited into a kiosk if all of the following apply:

a. The person reported the fraudulent nature of the transmission to the Commissioner within 30 days of the transmission.

b. The Commissioner determined that the transaction was fraudulent in accordance with the Commissioner's established procedures.

c. The person was a new virtual currency customer at the time of the transaction.

(2) The virtual currency kiosk operator shall refund fees imposed by the operator if all of the following apply:

a. The person reported the fraudulent nature of the transmission to the Commissioner within 30 days of the transmission.

b. The Commissioner determined that the transaction was fraudulent in accordance with the Commissioner's established procedures.

c. The person was an existing virtual currency customer at the time of the transaction.

(c) Cancellation of Transaction. - A customer shall have the option to cancel any transaction and receive a full and immediate refund if the cancellation is done before the transaction is completed. The kiosk shall provide a receipt compliant with G.S. 53-448 for any cancelled transaction.

(d) Fees. - The aggregate fees and charges directly or indirectly charged to a customer related to a single transaction or series of related transactions involving virtual currency effected through a virtual currency kiosk in this State, including the spread, shall not exceed twelve percent (12%) of the dollar equivalent of the virtual currency involved in the transaction or transactions.  (2026-45, s. 1.)