Louisiana just armed crypto ATM users with a legal cheat code to demand full refunds from unlicensed operators

Starting Aug. 1, Louisiana users may cancel a virtual-currency-kiosk transaction made on or after that date and demand a full refund at any time if the machine's owner or operator was unlicensed when the transaction occurred.

Act 482 puts the cost of an eligible refund on the operator. Eligibility depends on the operator's license status when the transaction occurred, so the provision does not cover every kiosk payment. The act separately preserves Louisiana's general rule requiring an operator to hold a transaction for 72 hours or allow the user to cancel within 72 hours for a full refund. The measure takes effect Aug. 1.

How the refund process works

For a cancellation and refund request made under R.S. 6:1389(B), the operator must acknowledge and respond within 10 business days. Its response must clearly disclose all requirements for obtaining the refund. The 10-business-day deadline applies to the response, not the payment.

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