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SF 449IOWASession 2025-2026State BillSigned into law
Enacted

Iowa regulates digital financial asset kiosks, sets transaction limits, and mandates fraud disclosures

Original title: A bill for an act relating to digital financial asset transaction kiosks and including penalties, and effective date and applicability provisions. (Formerly SSB 1142 .) Effective date: 05/19/2025. Applicability date: 07/01/2025.

Last action · May 20, 2025: Explanation of vote. H.J. 1223 .

Bill progressHistory & official text ↓
Introduced
Committee
Floor Vote
Passed
Law

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What This Bill Does

Iowa law establishes comprehensive regulations for transaction kiosks, capping daily transactions at $1,000 for standard consumers and $10,000 for new users over a 30-day period. Operators must provide written fraud warnings, offer live customer service, maintain compliance officers, and allow refunds for fraud victims under specific conditions.

Why it matters

Operators face civil penalties of up to $10,000 per violation enforced exclusively by the attorney general, while consumers gain explicit refund rights and standardized fee caps set at the greater of $5 or 15% of the transaction value.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Digital financial asset kiosk operators

Operators must comply with transaction caps, fee limits, mandatory disclosures, customer service hours, blockchain analytics screening, and refund mandates.

Directly affected

Consumers

Consumers receive mandatory fraud warnings, fee protections, itemized receipts, and statutory refund rights under specified fraud conditions.

Directly affected

Division of Banking

The division receives kiosk address lists from operators and makes them publicly available on its internet site.

Directly affected

Attorney General

The attorney general gains sole authority to bring civil enforcement actions, seek injunctions, and collect civil penalties for violations.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What are the daily transaction limits for using a digital financial asset kiosk?
An operator cannot accept or dispense more than $1,000 per calendar day for a consumer. For a new consumer during their first 30 days with an operator, the total limit is $10,000.
Can I get a refund if I am scammed while using a crypto kiosk?
Yes, operators must issue full refunds to new or existing consumers who were fraudulently induced, provided they report the fraud to the operator and law enforcement within 90 calendar days and submit proof such as a police report or sworn declaration.
What fees can an operator charge for a transaction?
Charges cannot exceed the greater of $5 or 15% of the United States currency equivalent of the s involved based on the public market price on a licensed exchange.

What else do you want to know?

News Coverage

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Where This Stands

Current status: Signed into law.

Procedural history

26 actions
  1. May 20, 2025House
    Explanation of vote. H.J. 1223 .
  2. May 19, 2025SenateEnrolled
    Signed by Governor . S.J. 1052 .
  3. May 19, 2025Senate
    Reported correctly enrolled, signed by President and Speaker, and sent to Governor. S.J. 1050 .
  4. May 12, 2025House
    Message from House. S.J. 968 .
  5. May 12, 2025House
    Immediate message. H.J. 1140 .
  6. May 12, 2025HouseFloor
    Passed House , yeas 77, nays 12. H.J. 1138 .
Show 20 earlier actions
  1. May 12, 2025House
    Amendment H-1314 filed, withdrawn. H.J. 1138 .
  2. Apr 10, 2025House
    Placed on calendar under unfinished business. H.J. 928 .
  3. Apr 2, 2025House
    Placed on calendar. H.J. 883 .
  4. Apr 2, 2025House
    Committee vote: Yeas, 18. Nays, 1. Excused, 3. H.J. 883 .
  5. Apr 2, 2025House
    Committee report, recommending passage. H.J. 883 .
  6. Mar 31, 2025Iowa Legislature
    Subcommittee recommends passage.
  7. Mar 28, 2025House
    Subcommittee Meeting: 03/31/2025 12:00PM House Lounge.
  8. Mar 28, 2025House
    Subcommittee: Lundgren, Judge and Lawler. H.J. 873 .
  9. Mar 27, 2025HouseIntroduced
    Read first time, referred to Commerce. H.J. 867 .
  10. Mar 26, 2025House
    Message from Senate. H.J. 818 .
  11. Mar 26, 2025Senate
    Immediate message. S.J. 652 .
  12. Mar 26, 2025SenateFloor
    Passed Senate , yeas 45, nays 2. S.J. 650 .
  13. Mar 26, 2025SenateFloor
    Amendment S-3057 filed, adopted. S.J. 650 .
  14. Feb 26, 2025Senate
    Committee report, approving bill. S.J. 372 .
  15. Feb 26, 2025SenateIntroduced
    Introduced, placed on calendar. S.J. 364 .
  16. Feb 25, 2025Iowa Legislature
    Committee report approving bill, renumbered as SF 449 .
  17. Feb 19, 2025Iowa Legislature
    Subcommittee recommends passage.
  18. Feb 18, 2025Iowa Legislature
    Subcommittee Meeting: 02/19/2025 1:00PM Room 315.
  19. Feb 18, 2025Iowa Legislature
    Subcommittee: McClintock, Bennett, and Sires.
  20. Feb 18, 2025Iowa LegislatureIntroduced
    Introduced, referred to Technology.

Version history

Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.

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Lobbying Activity

No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.

Full breakdown

Who this bill affects and the strongest case for and against it, written only from the bill’s own text.

Discoveries

1 pattern noticed across the record

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift98% confidence

Establishment of State-Level Kiosk Oversight

Iowa created a dedicated regulatory framework specifically targeting digital financial asset kiosks, imposing transaction caps, fee limits, and mandatory blockchain analytics.

Division of BankingAttorney General

Connected Entities

Paul Pate, Division of Banking, Attorney General and 4 more
PersonPaul Pate“Secretary of State of Iowa”Map →
OrganizationDivision of Banking“State agency receiving kiosk location lists”Map →
OrganizationAttorney General“Brings civil actions and enforces penalties for violations”Map →
PersonKim Reynolds“Governor of Iowa who approved the bill”Map →
PersonCharles Smithson“Secretary of the Senate”Map →
PersonAmy Sinclair“President of the Senate”Map →
PersonPat Grassley“Speaker of the House”Map →

Sources

Open source document

www.legis.iowa.gov

Analysis Score

0–100
  • Significance85
    How much this matters to a regular citizen
  • Controversy40
    Intensity of disagreement among stakeholders
  • Entertainment10
    Compellingness for a non-policy-wonk reader
  • Buzz60
    Current news / social attention level

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