For purposes of this part, the term:(1) “Blockchain” means a mathematically secured, chronological, decentralized, distributed, and digital ledger or database that consists of records of transactions that cannot be altered retroactively.
(2) “Blockchain analytics” means the process of examining, monitoring, and gathering insights from the data and transaction patterns on a blockchain network. The primary aims of blockchain analytics are to understand and monitor the network’s health, track transaction flows, and identify potential security threats, including illicit activity, in order to extract actionable insights.
(3) “Daily transaction limit” means a new customer being limited to no more than $2,000 in transactions per calendar day, or an existing customer being limited to no more than $10,000 in transactions per calendar day, whether through a single transaction or multiple transactions or whether through one or more virtual currency kiosks.
(4) “Existing customer” means a customer who has transacted with a kiosk business on its virtual currency kiosk for 7 or more days.
(5) “New customer” means a customer who has transacted with a kiosk business on its virtual currency kiosk for fewer than 7 days.
(6) “Registrant” means a corporation, limited liability company, limited liability partnership, or foreign entity qualified to do business in this state which offers virtual currency kiosk services and receives notice from the office that the agency has granted an application for registration pursuant to this part.
(7) “Transaction hash” means a unique identifier consisting of a string of characters which provides a verifiable record that a transaction has been confirmed and added to the blockchain.
(8) “Wallet” means hardware or software that enables a customer to store, use, send, receive, and spend virtual currency or store virtual currency private keys or passcodes enabling the same.
