Colorado § 11-112-103 - Virtual currency kiosks - disclosures - receipts - daily limit - cancellation and refund.

§ 11-112-103. Virtual currency kiosks - disclosures - receipts - daily limit - cancellation and refund.

(1) Before entering into a virtual currency transaction for, on behalf of, or with a customer, the owner or operator of a virtual currency kiosk shall disclose to the customer in clear and conspicuous writing in the English language all material risks associated with virtual currency. The disclosures must be displayed on the screen of the virtual currency kiosk with the ability for a customer to acknowledge receipt of the disclosures. The disclosures must include at least the following statement:

​ WARNING: THIS TECHNOLOGY CAN BE USED TO DEFRAUD YOU. IF YOU HAVE BEEN DIRECTED TO THIS MACHINE BY SOMEONE CLAIMING TO BE A GOVERNMENT AGENT, BILL COLLECTOR, LAW ENFORCEMENT OFFICER, OR ANYONE YOU DO NOT KNOW PERSONALLY, STOP THIS TRANSACTION IMMEDIATELY AND CONTACT YOUR FINANCIAL ADVISOR AND LOCAL LAW ENFORCEMENT.

(2) When opening an account for a customer, the owner or operator of a virtual currency kiosk shall disclose to the customer in clear and conspicuous writing in the English language all relevant terms and conditions associated with the products, services, and activities of the owner or operator and virtual currency generally, including the following:

(a) The customer's liability for unauthorized virtual currency transactions;

(b) Under which circumstances the owner or operator will, absent a court or government order, disclose information concerning the customer's account to third parties;

(c) The customer's right to receive periodic account statements and valuations from the owner or operator;

(d) The customer's right to receive a receipt, a trade ticket, or other evidence of a virtual currency transaction; and

(e) The customer's right to prior notice of a change in the rules or policies of the owner or operator.

(3) Prior to a transaction in virtual currency for, on behalf of, or with a customer, the owner or operator of a virtual currency kiosk shall disclose to the customer in clear and conspicuous writing in the English language the terms and conditions of the virtual currency transaction, including the following:

(a) The amount of the transaction;

(b) The fees, expenses, and charges borne by the customer, including applicable exchange rates;

(c) The type and nature of the transaction;

(d) A warning that, once completed, the transaction is irreversible, if applicable;

(e) The difference in the virtual currency's sale price versus the current market price; and

(f) Other disclosures that are customarily given in connection with a virtual currency transaction.

(4) The owner or operator of a virtual currency kiosk shall ensure that each customer acknowledges receipt of all disclosures required under this section.

(5) Upon the completion of a virtual currency transaction, the owner or operator of a virtual currency kiosk shall provide to the customer an electronic receipt containing the following information:

(a) The name of and contact information for the owner or operator, including a telephone number established by the owner or operator to answer questions and register complaints;

(b) The type, value, date, and precise time of the virtual currency transaction, the transaction hash, and each virtual currency address;

(c) The fee charged;

(d) The exchange rate, if applicable;

(e) A statement of the liability of the owner or operator for nondelivery or delayed delivery of the currency for which the customer exchanged virtual currency; and

(f) A statement of the refund policy of the owner or operator.

(6) (a) For a new customer, the maximum daily transaction limit of a virtual currency kiosk is two thousand dollars per customer.

(b) For an existing customer, the maximum daily transaction limit of a virtual currency kiosk is ten thousand five hundred dollars per customer.

(7) (a) The owner or operator of a virtual currency kiosk shall, at the expense of the owner or operator, allow a customer to cancel and receive a full refund for a virtual currency transaction if:

(I) The virtual currency transaction was the customer's first virtual currency transaction;

(II) The virtual currency transaction was to a virtual currency wallet or exchange located outside of the United States; and

(III) Within sixty days after the virtual currency transaction, the customer contacts the owner or operator of the virtual currency kiosk and a government or law enforcement entity regarding the fraudulent nature of the transaction and submits proof of the fraud, such as a police report or notarized declaration detailing the fraudulent nature of the virtual currency transaction.

(b) If the conditions of subsection (7)(a) of this section are met, the owner or operator shall issue a full refund within seventy-two hours after being notified that the virtual currency transaction was fraudulent.

Source: L. 2025: Entire article added, (SB 25-079), ch. 341, p. 1845, § 1, effective January 1, 2026.

ARTICLE 113

Adults' Security and Safeguards from Exploitation in Transactions Act

11-113-101. Short title.

11-113-102. Definitions.

11-113-103. Disclosures to governmental agencies - immunity.

11-113-104. Disclosures to third parties - immunity.

11-113-105. Delaying disbursements - immunity.

11-113-106. Immunity for reasonable good faith omissions.

11-113-107. Records.

11-113-108. Multiple duties to report.