(a) In this subtitle the following words have the meanings indicated. (b) "Experienced user" means a person that is not a new user. (c) "New user" means a person that is transacting with a virtual currency kiosk operator: (1) For the first time; or (2) Anytime in the 72 hours immediately following the person's first transaction with the virtual currency kiosk operator. (d) (1) "Virtual currency" means a digital representation of value that: (i) Is used as a medium of exchange, unit of account, or store of value; and (ii) Is not currency, as defined in § 12-802 of this title. (2) "Virtual currency" does not include: (i) A digital representation of value that can be redeemed for: 1. Goods, services, discounts, or purchases solely as part of a customer affinity or rewards program with the issuing merchant or other designated merchants, or both; or 2. Digital units in another customer affinity or rewards program that may not directly or indirectly be converted into, redeemed, or exchanged for money, monetary value, bank credit, or virtual currency; or (ii) A digital representation of value issued by or on behalf of a publisher that: 1. Is used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform; 2. Has no market or application outside of the online game, game platform, or family of games; 3. May not directly or indirectly be converted into, redeemed, or exchanged for money, monetary value, bank credit, or virtual currency; and 4. May or may not be redeemable for real-world goods, services, discounts, or purchases. (e) (1) "Virtual currency kiosk" means a stand-alone automated platform through which a consumer may deposit or receive cash or use a credit or debit card to obtain virtual currency services. (2) "Virtual currency kiosk" does not include an automated teller machine, as defined in § 1-401(d) of this article. (f) "Virtual currency kiosk operator" or "operator" means a person who owns or operates a virtual currency kiosk in the State. (g) (1) "Virtual currency service" means: (i) The conversion of a virtual currency to another form of virtual currency; or (ii) The purchase, sale, exchange, swap, or transfer of virtual currency by any means. (2) "Virtual currency service" includes any other activity that the Commissioner identifies as a virtual currency service by regulation. (3) "Virtual currency service" does not include money transmission, as defined in § 12-401(p) of this title.
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