LA Unveils Tough New Rules for Unlicensed Crypto Kiosks

Starting August 1st, Louisiana residents who used unlicensed cryptocurrency kiosks may be eligible for full refunds. This change is thanks to Act 482, which shifts the cost of these refunds from users to operators.

The law requires operators to respond within 10 business days after a cancellation and refund request. They must also clearly disclose all requirements for obtaining the refund. A covered refund can take up to 90 calendar days to be completed, but if the operator's policy requires additional documents like a police report or proof of identification, the deadline becomes 90 days from that submission.

This change arrives against a backdrop of documented fraud. The FBI's Internet Crime Complaint Center recorded 144 Louisiana complaints involving cryptocurrency kiosks and $2,874,450 in adjusted losses for 2025.

Operators must hold a current license to operate virtual-currency business activity in the state, and as of July 31, there were 36 active virtual-currency business licensees listed by the Louisiana Office of Financial Institutions. The change is meant to protect users from unlicensed operators who may be engaging in fraudulent activities.