Green Bay Reporter

A bill authored by State Rep. Ryan Spaude in the Wisconsin Assembly seeks to regulate virtual currency kiosks by requiring licensing, fraud warnings, identity verification, and transaction limits, according to the Wisconsin State Assembly.

According to the Wisconsin State Legislature's official website, the bill was described as follows: "virtual currency kiosks".

The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill mandates that operators of virtual currency kiosks in Wisconsin be licensed as money transmitters and introduces specific regulations for their operation. The bill defines a "virtual currency kiosk" as an electronic terminal where individuals can exchange fiat currency, like U.S. dollars, for virtual currencies, such as cryptocurrencies, and vice versa. Operators must display a printed fraud warning on the kiosk and ensure customers electronically acknowledge the warning before transactions. It requires operators to verify customers' identities by collecting personal information, including a government-issued ID and photographing the customer at each kiosk use. Transactions are capped at $1,000 per day per customer, and fees cannot exceed $5 or 3% of the transaction amount. If a customer is defrauded, operators must refund the transaction within 30 days, provided the customer reports it to the operator and law enforcement. The customer identification requirement starts applying on the 60th day after the bill's effective date.

The bill was co-authored by Sen. Kelda Roys (Democrat-26th District), Rep. Clinton M. Anderson (Democrat-45th District), Rep. Ryan M. Clancy (Democrat-19th District), Rep. Ben DeSmidt (Democrat-65th District), and Rep. Russell Goodwin (Democrat-12th District). It was co-sponsored by Sen. Kristin Dassler-Alfheim (Democrat-18th District), Sen. Dora E. Drake (Democrat-4th District), and Sen. Dianne H. Hesselbein (Democrat-27th District), along with seven other co-sponsors.

Ryan Spaude has co-authored or authored another 25 bills since the beginning of the 2025 session, with none of them being enacted.

Spaude graduated from Princeton University in 2016 and again in 2022 from University of Wisconsin Law School with a JD.

Spaude, a Democrat, was elected to the Wisconsin State Assembly in 2025 to represent the state's 89th Assembly district, replacing previous state representative Elijah Behnke.

In Wisconsin, the legislative process starts when a senator, constituent, group, or agency proposes an idea for a bill. After drafting, the bill is introduced, numbered, and referred to a committee for review and public input. If approved, it moves through three readings and votes in both the Senate and Assembly. Once both chambers pass the same version, the bill goes to the governor, who can sign it, veto it, or let it become law without a signature. Only a small share of bills introduced each session ultimately become law. You can learn more about the Wisconsin legislative process here.

Bill Number	Date Introduced	Short Description
AB384	07/31/2025	Virtual currency kiosks
AB383	07/31/2025	The veterans housing and recovery program and making an appropriation. (FE)
AB361	07/17/2025	Eliminating criminal defenses of adequate provocation, self-defense, or not guilty by reason of mental disease or defect if the claim is based on the victim’s gender identity or sexual orientation
AB62	02/24/2025	Health care costs omnibus, granting rule-making authority, making an appropriation, and providing a penalty. (FE)