Crypto ATM laws in South Dakota: a guide for operators (2026)
South Dakota's kiosk law has applied since July 1, 2026: a money transmitter license, $1,000 a day and $10,000 a month, a 25% cap and live support.
Kiosk law in force · Last checked
Esta guía todavía está solo en inglés.
Licensing in South Dakota
Kiosk operators must be licensed money transmitters under SDCL ch. 51A-17; since 2019 the Division of Banking has treated virtual currency as 'monetary value' and has required licensees to list virtual currency transmission in NMLS.
Regulator: South Dakota Division of Banking · License: Money transmitter license
Sources: SD Division of Banking memo 11-002 (2019) · SDCL 51A-17 · SD Division of Banking: Money Transmitters
South Dakota's kiosk law
SB 98 (2026), SDCL ch. 51A-17 · effective 2026-07-01. Since July 1, 2026: license, $1,000 a day and $10,000 a month, a 25% cap, warnings, receipts, refunds, reports and live support.
- Kiosk operators must be licensed as money transmitters under SDCL ch. 51A-17.
- $1,000 a day and $10,000 a month.
- Transaction charges limited to 25%.
- Fraud and risk disclosures (no government backing or insurance), receipts with exchange rate and fees, refunds to fraud victims when conditions are met, live support at least 8 a.m. to 10 p.m. local time, blockchain analytics, identity verification before accepting payment, and training for staff at kiosk locations.
Sources: South Dakota Division of Banking memo 20-035 (SB 98)
Also in the law, and recent changes
- SB 98's kiosk rules are codified in a new chapter, SDCL 51A-18 ('Virtual Currency Kiosks'), separate from the 51A-17 licensing chapter.
- 'virtual currency kiosk' includes an app or product that directs a user to pay in person, including through a clerk, to complete a crypto transaction, not only a terminal.
Sources: SDCL 51A-18 (full chapter) · SD SB 98 (2026) text
Practical hurdles
- The broad kiosk definition can reach cashier-assisted crypto purchases at retail counters.
- Scam pressure context: FBI IC3 counted 33 crypto-kiosk complaints from this state in 2025 with $563,533 in adjusted losses (FBI notes losses may include non-kiosk transactions).
What we couldn't confirm
- MTMA: SDCL 51A-17 contains MTMA-style transition language, but we did not confirm its adoption date or that CSBS counts SD as an MTMA state.
- The definition in SB 98 is from the introduced text; check that it survived in 51A-18.
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