The ordinance applies to machine operators, property owners, landlords and retailers that host physical virtual-currency kiosks or facilitate in-person payments for virtual-currency providers. Violations may lead to daily fines, business-license action and court enforcement.
Existing kiosks must stop operating immediately and be removed within 45 days after the ordinance's effective date. The city release does not state that effective date, so businesses should verify the controlling date in the enacted ordinance or with the city before calculating their removal deadline.
Residents may continue to own, possess, mine and privately transfer virtual currency through internet exchanges and personal digital wallets. The measure targets physical kiosks and retail facilitation, not cryptocurrency itself.