Under the new law, the cost of the refund will be the responsibility of the operator. However, not all kiosk payments will be eligible for a refund, as it depends on the operator’s license status at the time of the transaction. The act also upholds Louisiana’s rule that operators must hold a transaction for 72 hours or allow users to cancel within that time frame for a full refund. These provisions will go into effect on August 1.

The process for requesting a refund is outlined in the statute. Operators must acknowledge and respond to cancellation and refund requests within 10 business days. The response must clearly outline the requirements for obtaining a refund. Additionally, operators are required to provide live support through a toll-free number during kiosk operating hours, with the number displayed on the machine and on the transaction receipt.

If a refund request is based on suspected fraud, the operator may require proof of a police or governmental entity report as well as proof of identification. Activities that qualify as suspected fraud under the act include filing a complaint with the FBI’s Internet Crime Complaint Center.

A covered refund must be processed within 90 calendar days of the initial request. If additional documentation is required by the operator’s policy and provided by the user at a later date, the deadline for payment may be extended beyond the initial 90-day period.

It is important to note that virtual currency business activity in Louisiana is subject to licensing requirements. Owning, operating, soliciting, marketing, advertising, or facilitating a kiosk in the state falls under the virtual currency business category. As of July 31, there were 36 active virtual currency business licensees in Louisiana.

The implementation of Act 482 comes in response to documented fraud cases involving cryptocurrency kiosks in Louisiana. In 2025, the FBI’s Internet Crime Complaint Center received 144 complaints from Louisiana residents regarding cryptocurrency kiosks, resulting in $2,874,450 in adjusted losses. It is important to recognize that these complaints may involve other transaction types within the same scams, so the total loss cannot be solely attributed to kiosk transactions.

Mutsamudu, Comoros, September 15, 2026 – MEXC, a pioneer in 0-fee digital asset trading, has released its September 2026 Proof of Reserves (PoR) report, audited by Hacken, confirming that user assets remain fully backed across all major reserve assets. The BTC reserve ratio increased to 297%, up from 288% in August. MEXC continues to disclose reserve data on a monthly basis, aiming to enhance transparency and safeguard the security of user funds.

According to the audited report, dated as of the September 10, 2026 snapshot, reserve ratios for all disclosed assets are as follows:

BTC: 297%. Reserves of 12,202.13 BTC cover 4,106.57 BTC in user holdings.

USDT: 119%. Reserves of 1,818,202,910.24 USDT cover 1,526,526,878.38 USDT in user holdings.

USDC: 111%. Reserves of 299,925,929.77 USDC cover 269,894,125.25 USDC in user holdings.

ETH: 111%. Reserves of 58,917.60 ETH cover 53,243.98 ETH in user holdings.

MEXC verifies its reserves through Merkle Tree technology, allowing individual users to confirm their balances are included in the total reserve calculation without exposing other users’ data. For this month’s audit, Hacken conducted a comprehensive evaluation of MEXC’s reserves, covering Proof of Liabilities, Proof of Ownership, Reserves Calculation, and a PoR Assessment. Hacken confirmed that MEXC’s reserves exceed a 1:1 ratio across all in-scope assets, fully covering user liabilities.

“Protecting user assets and earning their trust are fundamental responsibilities, not optional commitments,” said Vugar Usi, CEO of MEXC. “In an industry where confidence has been tested time and again, transparency must be demonstrated through actions that users can independently verify. That is why we publish verifiable Proof of Reserves every month, giving users the ability to validate their asset data at any time rather than simply relying on our assurances. Our commitment is to continue raising the standard for transparency, accountability, and asset protection, and to build the kind of trust that is earned consistently over time.”

To further protect user assets, MEXC maintains the Futures Insurance Fund, which absorbs losses from liquidations triggered by extreme market conditions. The fund held a balance of approximately 798 million USDT as of press time. MEXC also operates The Guardian Fund, a dual-reserve structure combining USDT and BTC holdings that offers full compensation coverage for platform-related issues. It held a balance of $101 million as of press time and plans to expand to $500 million within two years.

To view the latest Proof of Reserves snapshot and audit report, please visit the MEXC Proof of Reserves page.

About MEXC

Founded in 2018, MEXC is a leading global multi-asset trading platform built as your 0-fee gateway to infinite opportunities. Serving users across 170+ markets, MEXC provides simple and efficient access to crypto, stocks, tokenized assets, derivatives, and a growing range of TradFi-linked opportunities through one account and one gateway.

With 0 trading fees, deep liquidity, broad asset coverage, and a high-performance trading experience, MEXC is designed for retail users who want to discover earlier, act faster, and trade with fewer barriers. As crypto and traditional finance continue to converge, MEXC is committed to making global opportunities more accessible, helping users trade freely and MEXCmize every opportunity.

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For media inquiries, please contact MEXC PR team: media@mexc.com

Risk Disclaimer:

This content does not constitute investment advice. Given the volatility of financial markets, including digital assets, tokenized assets, and traditional financial products, investors should carefully assess market conditions, underlying asset fundamentals, and potential financial risks before making any investment or trading decisions.

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