Payments
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March 7, 2025
The Nebraska Legislature has passed LB609, a measure that regulates operators of controllable electronic records, including cryptocurrency, under the Nebraska Money Transmitters Act, according to a Unicameral Update. Sponsored by Sen. Eliot Bostar of Lincoln, the bill requires these operators to obtain licenses and submit quarterly reports to the Nebraska Department of Banking and Finance.
The legislation also mandates risk, fee and exchange rate disclosures, anti-fraud measures, refund policies for fraudulent transactions, consumer warnings and transaction limits.
Additionally, LB609 adds controllable electronic records to the list of property that can be seized in criminal investigations.
The measure passed with a 48-0 vote on March 6.