On May 5, Minnesota’s governor signed S.F. 3868 into law, prohibiting the installation, operation or use of virtual currency kiosks in the state effective August 1. The law requires all existing kiosk operators to remove their machines from publicly visible or accessible locations by December 31. Operators that conduct virtual currency transactions exclusively through kiosks must also pay out any money or virtual currency held for or owed to customers by that date, either in U.S. dollars at market value or to a customer-designated virtual currency wallet, with the transfer recorded on the applicable blockchain. An operator is exempt from the payout requirement if it maintains other lawful means for customers to “access, transfer, redeem, or otherwise transact” funds outside of the kiosk channel. The law also repeals several existing provisions governing virtual currency kiosk operations, including disclosure requirements on material risks, transaction-specific terms, refund protections for new customers induced by fraud, and daily transaction limits that had capped new-customer transactions at $2,000. Those repeals take effect in two stages: most provisions are repealed August 1, while the definitions of “new customer” and “existing customer” and the refund provision for fraud-induced transactions will be repealed January 17, 2027.