Lansing council weighs rules for cryptocurrency kiosks

Lansing City Council is considering regulations for cryptocurrency kiosks at its Monday evening meeting, a move prompted by warnings from the Michigan chapter of AARP regarding recent scams. If approved, the new rules would require kiosk operators to post specific disclosures and warnings to customers, with penalties for non-compliance.

The proposal follows a recent ban in Jackson, where the city council unanimously voted to prohibit the installation and operation of virtual currency kiosks. Jackson’s ordinance, which took effect around October 22, also bans cashier-facilitated crypto transactions and allows the city to seek removal of machines and forfeiture of funds collected during violations.

Read the full story at wilx.com.