Florida is advancing legislation that would formally bring operators of cryptocurrency kiosks within the state’s money transmitter licensing framework. House Bill 505 has passed both chambers of the Florida Legislature and, as of March 12, 2026, has been ordered engrossed and enrolled, placing it before the Governor for signature. The bill would expand the definition of money services business under Chapter 560 of the Florida Statutes to include virtual currency kiosk businesses, requiring operators to obtain authorization from the Office of Financial Regulation regardless of whether they are acting as an intermediary or facilitating peer-to-peer transactions. If signed by the Governor without modification, the bill would take effect July 1, 2026, though that date remains subject to change depending on the timing and circumstances of any executive action.
If the legislation is enacted in its current form, companies operating cryptocurrency kiosks in Florida without an existing money transmitter license would face a new licensing obligation, transaction limits, mandatory consumer disclosures, and refund obligations under certain circumstances. Operators who are already licensed as money services businesses under Florida law would be exempt from the new registration requirement, though they would remain subject to the consumer protection provisions applicable to kiosk activity. Companies currently operating in Florida should evaluate their existing licensure status and assess what compliance steps would be required before the proposed effective date.