Gov. Josh Stein signed 17 bills into law this week, including a $34 billion state budget and measures on cryptocurrency kiosks, property tax revaluations, and transportation.
House Bill 920 regulates cryptocurrency kiosks, which let users exchange cash for digital currencies such as Bitcoin and Ethereum. The law requires fraud warnings, sets new transaction limits, caps service fees at 12% of a transaction’s value, and requires refunds for up to 30 days for users who were scammed. Many crypto ATM companies currently charge 20% to 30%.
In a statement, Stein said North Carolina’s laws must keep pace with changing technology. The governor’s office said North Carolinians lost more than $12 million in frauds and scams involving cryptocurrency kiosks.
“This bill protects people from fraud when they use virtual currency kiosks, requiring the machines to be licensed and regulated under state law, placing limits on daily transactions, and providing scam alert signs, live customer service, receipts for transactions, and the ability to cancel a transaction that’s still in progress,” Stein said.
Senate Bill 474 revised a moratorium on property tax revaluations this year. An earlier law, Senate Bill 889, had paused revaluations in Anson, Bladen, Buncombe, Davidson, Guilford, Harnett, Onslow, Pender, and Scotland counties.
The new law removed Buncombe, Harnett, and Scotland counties from the moratorium and added Chowan and Pamlico counties. It also required any Buncombe County revaluation this year to be revenue-neutral, meaning the county cannot raise additional revenue from it.
Buncombe County leaders had said the freeze could reduce tax revenue as the county recovers financially from Hurricane Helene. When Stein signed Senate Bill 889, he urged lawmakers to also pass Senate Bill 474.
“The version sent to my desk does not do that. Instead, it continues to impede Buncombe County’s recovery efforts,” he said. “Nevertheless, this bill provides legal clarity to local governments adopting new budgets after the statutory deadline, so I have signed it into law.”
House Bill 1094 made several transportation changes. It defined three classes of electric bicycles and allowed them on roads, bicycle lanes, and paths, while allowing local governments to regulate their use within city limits.
Riders younger than 18 must wear helmets on the fastest e-bikes, which can reach 28 mph. The law also let drivers renew licenses at any point during the eight-year renewal cycle, instead of only in the six months before expiration.
“This bill makes the DMV more efficient and gives drivers a smoother experience,” Stein said. “It helps more people avoid a trip to renew their IDs and makes crash reports easier to access online so that people can get the information and resources they need when they need them.”