Government

Oklahoma Implements regulations for digital asset kiosks

November 13, 2025

New licensing and compliance requirements for operators of digital asset kiosks, commonly known as crypto ATMs, took effect Nov. 1 in Oklahoma as part of a legislative effort to combat rising fraud, according to the National Law Review.

The Oklahoma State Banking Department issued a memo detailing the requirements under Senate Bill 1083, which the state legislature passed in May. The framework mandates that all digital asset kiosk operators must be licensed as money transmitters under the Oklahoma Financial Transaction Reporting Act.

The state's updated rules impose several strict obligations aimed at consumer protection:

• Licensing and reporting: Operators must obtain a money transmitter license, post a $500,000 surety bond and pay a $50 fee per location. They must also provide advance notice of installation or relocation and submit quarterly reports on kiosk locations.
• Fraud prevention: Companies must implement blockchain analytics to detect and prevent transactions to known fraudulent wallets, establish a written anti-fraud policy and employ a full-time compliance officer.
• Transaction limits and fees: Daily transactions for new customers are capped at $2,000. Total fees and charges per transaction cannot exceed 15% of the transaction amount.
• Customer support: Operators must provide live customer support on weekdays from 8 a.m. to 10 p.m. (central)

The law also requires refunds for new customers defrauded within 72 hours of their first transaction, as well as for certain existing customers who report fraud within 14 days.