Texas Money Services Act

Discussion and action directing the City Attorney to draft an ordinance and resolution requiring virtual currency kiosks (cryptocurrency ATMs) in El Paso to display bilingual physical and digital fraud warning disclosures, mandatory timers and user confirmations, with dual liability for operators and hosting property owners. Enforcement would include a 48-hour cure notice, civil penalties up to $500 per machine per day, and Class C misdemeanor charges for willful repeat violations.

…echanism, thereby preserving the state’s sole regulatory jurisdiction under the Texas Money Services Act and preventing state preemption challenges. 8) Include in the ordinance's re…