Legislation to protect consumers, including at cryptocurrency kiosks, takes

Fraud prevention is a major focus of one of state government’s most prominent citizen’s organizations.

AARP West Virginia says its members take a strong interest in fraud prevention, so the organization — whose members fan out across the state Capitol in bright red clothing — is putting a push behind various bills reflecting that.

Legislation intended to better regulate the kinds of kiosks often found in convenience stores and gas stations allowing users to buy or sell cryptocurrencies using cash or debit cards is on track to be introduced in the Legislature this week. Those kiosks often have fees ranging from 5% to 15% per transaction.

“Cryptocurrency kiosks are becoming a favorite tool for criminals to steal millions of dollars from older West Virginians,” said Gaylene Miller, state director of AARP West Virginia, speaking at a Thursday morning press conference.

“These crypto kiosks look like an ordinary bank ATM and can be found in places like grocery stores, gas stations, laundromats and convenience stores.”

Seventeen states have passed legislation to regulate the cryptocurrency kiosks, Miller said.

“It is critical that the legislature address this issue this session by bringing some common sense solutions to protect consumers from crypto fraud,” Miller said.

Additional fraud-focused bills emphasized by the organization for older Americans include:

House Bill 4461, which relates to with high-speed internet, particularly service provider charges during power outages;

House Bill 4493 which aims to abolish the practice of entering into a contract to purchase real property while intending to transfer the contractual rights to a third party for a fee without the wholesaler taking legal title to the property.

House Bill 4990, which focuses on gift card fraud.

In November, AARP West Virginia surveyed 1000 more than 1000 West Virginia voters to get a sense of priorities.

“West Virginia voters want lawmakers to implement better protections for fraud and scams in the Mountain State, including cryptocurrency ATM and real estate fraud,” said Roger Calhoun, president of AARP West Virginia.