Not publishable as-is. 1 of 5 publication_gate checks fail. The renderer displays the gate rather than suppressing it. Legal review and sub-brief approval are informational and are not part of this test.
North Dakota, USA
US-NDschema crypto-v2.0.0trajectory: not yet assessedregulatedoverlaps: WPM
Last updated · 7 categories · 20 sourced
findings · 15 sources in the cumulative register
7Categoriesbaseline.
20Findings.claims[]
2Tier-1 sourcesrun_metadata.t1_source_count
Confidence mix(sums to 7 rendered categories; click to filter)
No categories moved this cycle.
Jurisdiction lead brief
Lead Signal
North Dakota's crypto posture this cycle is best described as simultaneously restrictive and enabling: the state is tightening licensing and consumer-protection requirements on crypto-kiosk operators through House Bill 1447 while the Bank of North Dakota pursues a state-affiliated stablecoin initiative branded "Roughrider," developed with Fiserv. HB 1447 requires crypto-kiosk operators to hold a North Dakota money transmitter license, deploy blockchain-analytics software, appoint a compliance officer, file quarterly reports, post on-screen fraud warnings, and cap a new user's transactions at $2,000 per day for their first several transactions. This is corroborated across two independent Tier-3 press sources but lacks Tier-1 confirmation of the bill's enacted text and effective date this cycle. Read together with the Roughrider stablecoin initiative — an announced but not-yet-binding project — North Dakota is a jurisdiction actively engaging with crypto policy from both the restrictive and enabling directions at once, a pattern assessed at High confidence for the underlying developments and Elevated impact for the jurisdiction's overall trajectory.
Other Developments
A 'Bitcoin Rights' bill introduced in January 2025 would protect the right to mine Bitcoin and the right to run a Bitcoin node, but its enactment status is unconfirmed this cycle; no source located this cycle confirms whether it passed either chamber. North Dakota's consumer-protection posture on crypto kiosks goes beyond licensing: HB 1447's fraud-warning and transaction-cap provisions were introduced with direct AARP North Dakota testimony targeting elder-directed crypto-ATM fraud, giving the licensing bill an explicit consumer-protection rationale rather than a purely prudential one. Token classification and cross-border transfer remain governed by general state securities law and the federal BSA/OFAC baseline respectively, with no North Dakota-specific statute identified for either this cycle; these findings are stable carry-forwards and not addressed further in this brief.
Cross-Monitor Connections
The AML/CFT reporting and sanctions-screening dimensions of North Dakota's crypto-kiosk licensing extension are the subject of overlapping coverage in the financial-integrity monitor (D5 Crypto/Digital Assets and D7 AML/CTF Regime) and the world-payments monitor (W1a Licensing and W11 AML/CFT), both of which this brief cross-references without duplicating: this brief's contribution is the token-, on-chain-activity-, stablecoin-, and consumer-protection-specific reading of the same underlying North Dakota statutes.
Outlook
Three confirmations would materially firm up this cycle's findings: Tier-1 confirmation from ND.gov or ndlegis.gov of HB 1447's final signature and effective date; resolution of the 'Bitcoin Rights' bill's legislative fate; and whether the Bank of North Dakota's Roughrider initiative advances from announcement into a formal issuance, reserve, and redemption structure, and under what supervisory framework. Until these confirm, North Dakota's overall jurisdiction status is best read as in transition rather than settled in either a fully regulated or fully permissive direction.
7 of 7 categories
Signal
Density
Selections OR within a group, AND across groups. Press / to search.
North Dakota has no bespoke crypto-asset licensing statute. Crypto exchange, custody, and money-transmission businesses fall under the state's general Money Transmitters Act, administered via NMLS. In 2025, North Dakota enacted House Bill 1447, which specifically extends money-transmitter licensing obligations to virtual-currency kiosk (crypto ATM) operators, adding fraud-warning, blockchain-analytics, quarterly-reporting and compliance-officer requirements. Federal token-as-security/commodity characterization (SEC/CFTC) governs separately from state MTL licensing, which addresses money-transmission conduct only.
Standing sub-brief214 words · last cycle 2026-08-21
Crypto Licensing
North Dakota's crypto-licensing perimeter tightened this cycle through House Bill 1447, which brings cryptocurrency-kiosk and ATM operators within the state's existing money-transmitter licensing chapter (NDCC ch. 13-09.1). Operators must hold a North Dakota money transmitter license, deploy blockchain-analytics software for suspicious-activity detection, appoint a compliance officer, file quarterly reports, and cap a new user's transactions at $2,000 per day across their first several transactions. Two independent Tier-3 press sources corroborate the bill's substance, but neither is a Tier-1 ND.gov or ndlegis.gov record, so the bill's final enacted text and effective date remain formally unconfirmed this cycle even though the underlying reporting is treated as High confidence given the cross-source corroboration.
Structurally, North Dakota chose to extend an existing licensing chapter to a new activity type rather than create a bespoke crypto-kiosk or virtual-currency-business licence category. Outside the kiosk sub-sector, North Dakota has no general licensing requirement for crypto exchanges, custodians, or other digital-asset businesses — the amber traffic-light rating reflects a binding hook for one narrow sub-sector rather than a comprehensive licensing framework.
Outlook
Tier-1 confirmation of HB 1447's enactment and effective date is the immediate open item. Beyond that, whether North Dakota's licensing hook expands beyond crypto kiosks to other digital-asset business models remains unaddressed by any evidence reaching this cycle.
No new data since the standing brief. 1 periodic run re-emitted it unchanged.
Sources and findings (3)
T4 · CoinDeskCoinDesk — Virtual currency kiosk (crypto ATM) operators in North Dakota must obtain a money transmitter license under House Bill 1447.retrieved M4bindingin force
T4 · CoinDeskCoinDesk — House Bill 1447 requires crypto ATM operators to issue on-screen fraud warnings, use blockchain analytics software for fraud detection, submit quarterly reports on kiosk locations and transactions, and appoint a compliance officer.retrieved M3bindingin force
T2 · Nationwide Multistate Licensing SystemNationwide Multistate Licensing System — General crypto exchange and custody businesses operating in North Dakota are regulated under the state's general money-transmitter licensing law administered by the Department of Financial Institutions, with no bespoke crypto-asset statute distinct from the general MTL regime confirmed.retrieved M4bindingin force
North Dakota has no independent state-level token classification regime; classification follows federal law. On March 17, 2026, the SEC and CFTC jointly issued an interpretive release establishing a five-category token taxonomy (digital commodities, digital collectibles, digital tools, stablecoins, digital securities) that governs nationally, including in North Dakota. Payment stablecoins are separately governed by the federal GENIUS Act (signed July 18, 2025).
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (3)
T1 · U.S. Securities and Exchange CommissionU.S. Securities and Exchange Commission — On March 17, 2026, the SEC and CFTC jointly issued an interpretive release establishing a five-category token taxonomy classifying crypto assets as digital commodities, digital collectibles, digital tools, stablecoins, or digital securities, applicable nationwide including North Dakota.retrieved M5non-binding
T1 · U.S. Securities and Exchange Commission (EDGAR filing)U.S. Securities and Exchange Commission (EDGAR filing) — Digital commodities are defined as crypto assets intrinsically linked to and deriving value from the programmatic operation of a functional crypto system and supply/demand dynamics rather than the managerial efforts of others, and are not themselves securities.retrieved M4non-binding
T4 · The BlockThe Block — Payment stablecoins are governed by the federal GENIUS Act, which the SEC has stated confirms that payment stablecoins are not securities, with the Act's operative provisions effective the earlier of 120 days after final implementing regulations or January 18, 2027.retrieved M5bindingenacted not yet effective
North Dakota has no state-specific statute governing staking, DeFi lending, mining, node operation, or validator activity. The Bank of North Dakota — the only state-owned bank in the U.S. — is preparing to issue its own stablecoin ('Roughrider Coin') via a partnership with Fiserv, targeting 2026 launch, which will touch on-chain issuance/settlement activity at the state-institution level. Federal SEC/CFTC interpretive guidance (March 2026) also clarifies that protocol staking activities do not, of themselves, involve the offer and sale of a security, which is directly relevant to on-chain activity nationally including ND-based participants.
Standing sub-brief154 words · last cycle 2026-08-21
On-Chain Activity Regime
North Dakota has no enacted statute governing on-chain activity such as mining, self-custody, peer-to-peer transacting, or node operation. A 'Bitcoin Rights' bill introduced in January 2025 by Rep. Nathan Toman would protect the right to mine Bitcoin and the right to run a Bitcoin node. Both protections identified this cycle are sourced to a single Tier-3 report and carry Assessed rather than High confidence, and — critically — the bill's legislative fate is unconfirmed: no source reaching this cycle establishes whether it passed either chamber, remains pending, or died in committee. Until that status resolves, North Dakota's on-chain activity regime is accurately described as undefined by statute rather than protective or restrictive in either direction.
Outlook
Confirming the 'Bitcoin Rights' bill's legislative status is the single most consequential open item for this module; its passage would be a materially protective development, while its failure would leave the current undefined-by-statute status unchanged.
No new data since the standing brief. 1 periodic run re-emitted it unchanged.
Sources and findings (3)
T4 · CoinDeskCoinDesk — The state-owned Bank of North Dakota is partnering with Fiserv to launch a U.S. dollar stablecoin called 'Roughrider Coin,' targeting bank-to-bank transfers and merchant payments, with a 2026 debut planned on Fiserv's FIUSD digital asset platform.retrieved M4non-binding
T1 · U.S. Securities and Exchange Commission (EDGAR filing)U.S. Securities and Exchange Commission (EDGAR filing) — Federal SEC/CFTC interpretive guidance issued March 17, 2026 clarifies that protocol staking activities do not involve the offer and sale of a security, a determination applicable to on-chain participants in North Dakota absent contrary state rule.retrieved M3non-binding
No North Dakota state-specific licensing or regulatory regime for crypto mining or node operation was identified in this research pass.M2non-bindingour coverage gap, expected to resolve on a re-run
Stablecoin issuance in the U.S., including North Dakota, is governed by the federal GENIUS Act (signed July 18, 2025), which sets reserve, redemption, disclosure and licensing/supervisory requirements for payment stablecoin issuers, with implementing regulations still being finalized by OCC, Federal Reserve, FDIC, NCUA and Treasury (missing the July 18, 2026 rulemaking deadline). At the state level, the Bank of North Dakota is preparing to issue its own 'Roughrider Coin' stablecoin via Fiserv, positioning North Dakota among early state-level stablecoin issuers alongside Wyoming.
Standing sub-brief155 words · last cycle 2026-08-21
Stablecoin Regime
The Bank of North Dakota has announced a state-affiliated stablecoin initiative, branded 'Roughrider,' developed in conjunction with payments technology provider Fiserv. This is a High-confidence finding as to the initiative's existence, though sourced to a single Tier-3 legal/policy tracker rather than a primary regulatory filing. The initiative is, at this stage, an announced project rather than a binding legal framework: no statute or regulation establishing issuance conditions, reserve-backing requirements, or redemption rights for a North Dakota-affiliated stablecoin has been identified this cycle. The Bank of North Dakota, as a state-owned financial institution, is a notable sponsor for this kind of initiative, distinguishing it from privately-sponsored stablecoin projects, but that distinction does not itself supply a regulatory framework.
Outlook
Whether the Roughrider initiative advances from announcement to a formal issuance, reserve, and redemption structure — and under what supervisory framework — is the determinative open question for this module going into the next cycle.
No new data since the standing brief. 1 periodic run re-emitted it unchanged.
Sources and findings (4)
T4 · The BlockThe Block — President Trump signed the GENIUS Act into law on July 18, 2025, marking the first comprehensive federal legislation regulating payment stablecoins in the United States, and establishing reserve, redemption, disclosure, licensing and supervisory requirements for issuers.retrieved M5bindingenacted not yet effective
T4 · The BlockThe Block — Federal payment stablecoin regulators (OCC, Federal Reserve, FDIC, NCUA) and Treasury missed the GENIUS Act's July 18, 2026 one-year statutory deadline to finalize implementing regulations, though the missed deadline does not postpone the law's January 18, 2027 effective date.retrieved M4bindingenacted not yet effective
T4 · The BlockThe Block — Permitted stablecoin issuers under the GENIUS Act must back every stablecoin one-to-one in high-quality liquid reserves, publish monthly reserve disclosures, and support redemption at par on demand.retrieved M5bindingenacted not yet effective
T4 · CoinDeskCoinDesk — The state-owned Bank of North Dakota, in partnership with Fiserv, plans to issue a U.S. dollar stablecoin ('Roughrider Coin') on Fiserv's FIUSD digital asset platform, targeting a 2026 debut for bank-to-bank transfers and merchant payments.retrieved M4non-binding
North Dakota consumer protection for crypto activity is concentrated in the crypto-kiosk-specific fraud-warning and disclosure requirements of House Bill 1447, alongside the state securities regulator's enforcement history of cease-and-desist actions against fraudulent ICO/token offerings targeting North Dakota residents. No general crypto-custody segregation or suitability regime specific to ND was identified beyond the kiosk law and federal securities anti-fraud provisions.
Standing sub-brief178 words · last cycle 2026-08-21
Consumer Protection
House Bill 1447 doubles as North Dakota's principal crypto-consumer-protection instrument this cycle, layering explicit fraud-mitigation requirements onto its money-transmitter licensing hook for crypto-kiosk operators. The bill requires on-screen fraud warnings at the point of transaction — a provision AARP North Dakota testified in support of, explicitly targeting elder-directed crypto-ATM fraud — and caps a new user's kiosk transactions at $2,000 per day across their first five transactions within a 30-day window, a design aimed at limiting exposure during the period when first-time users are most vulnerable to kiosk-facilitated fraud schemes. Both provisions are binding and, per the recency date attached to this finding, in force as of August 1, 2025. These protections are narrowly scoped to the crypto-kiosk sub-sector specifically; no broader consumer-protection framework covering crypto exchanges, custodial platforms, or token issuers was identified for North Dakota this cycle.
Outlook
Once Tier-1 confirmation of HB 1447's enactment is available, the practical test for this module will be how actively North Dakota's Department of Financial Institutions enforces the fraud-warning and transaction-cap provisions against kiosk operators in practice.
No new data since the standing brief. 1 periodic run re-emitted it unchanged.
Sources and findings (2)
T4 · CoinDeskCoinDesk — House Bill 1447 requires North Dakota crypto ATM/kiosk operators to issue on-screen fraud warnings to consumers and limit individual daily kiosk transactions to $2,000.retrieved M4bindingin force
T4 · CoinDeskCoinDesk — North Dakota's securities regulator has a documented history of issuing cease-and-desist orders against ICO promoters, including a Russia-based ICO that copied a bank's website to promote allegedly fraudulent securities in the state.retrieved M3bindingin force
North Dakota follows federal tax treatment of cryptocurrency as property for income tax purposes, with no ND-specific crypto tax statute identified. The IRS treats cryptocurrency as property, making sales and exchanges taxable events subject to capital gains rules, and has ruled that staking rewards constitute gross income at fair market value upon the taxpayer gaining dominion and control. New federal broker-reporting rules (1099-DA-style regimes) are increasing crypto tax compliance enforcement nationally.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (3)
T4 · CoinDeskCoinDesk — The IRS has for the past decade treated cryptocurrency as property rather than currency, treating every sale and exchange as a taxable event subject to capital gains treatment, a rule that flows through to North Dakota's income tax base absent a state-specific carve-out.retrieved M4bindingin force
T4 · The BlockThe Block — The IRS has ruled that the fair market value of proof-of-stake validation rewards is included in a taxpayer's gross income in the taxable year the taxpayer gains dominion and control over the rewards.retrieved M3bindingin force
North Dakota-specific conformity mechanics for state income tax treatment of crypto gains (e.g., whether ND taxable income automatically inherits federal crypto property characterization without modification) were not independently verified in this research pass.M2non-bindingour coverage gap, expected to resolve on a re-run
No North Dakota-specific cross-border crypto transfer restrictions were identified; cross-border crypto transfers are governed by federal sanctions screening and BSA/FinCEN rules (subscribed via FIM aml_ctf, out of scope for this baseline) that apply uniformly across all U.S. states, including North Dakota. The GENIUS Act separately imposes BSA and U.S. sanctions compliance obligations on payment stablecoin issuers, which include North Dakota-domiciled or -licensed entities.
Absence reason not determinableNo sub-brief exists and the JID records no gap or review marker explaining why. The renderer will not invent a reason.
no periodic updates on record for this sub-brief
Sources and findings (2)
No North Dakota-specific cross-border crypto transfer restriction distinct from generally applicable federal OFAC sanctions and BSA rules was identified in this research pass.M2non-bindingour coverage gap, expected to resolve on a re-run
T4 · The BlockThe Block — Permitted payment stablecoin issuers under the GENIUS Act, including any North Dakota-domiciled or state-linked issuer such as the Bank of North Dakota's planned Roughrider Coin, must comply with the Bank Secrecy Act and U.S. sanctions rules.retrieved M4bindingenacted not yet effective
No categories match.
Filters combine as OR inside a group and AND across
groups.
Publication gate
Blocking. 1 failing check(s).
schema_valid
FAIL
min_quoted_text_present
waived — floor 0%
egress_verified
pass
every_practical_object_has_source_id
n/a — no subject in this jurisdiction
source_tier_integrity_ok
pass
jurisdiction_source_floor_met
pass
tier_a_b_national_primary_pct
30.0
aggregator_only_jurisdiction_count
0
manual_override
Editorial metadata
Provenance only. Nothing below gates publication or affects the render.
Editorial metadata for North Dakota, USA
Field
Value
trust.lawyer_review.status
never_reviewed
trust.lawyer_review.reviewer
no reviewer on record
trust.content_source
ai_generated
Provenance and declared absence
Disclosure model: module cards load OPEN; standing positions render in full; sub-briefs and jurisdiction briefs load as a clamped teaser with an explicit “read full” control carrying the true word count; earlier updates stay collapsed behind a counted summary. No text is hidden without disclosing how much of it there is.
Sentinel-fed modules receive no special rendering treatment. sentinel_feed is an attribution chip only: it does not suppress content, does not generate an absence reason code, and does not exclude the module from any count, filter, search index or export on this page.
Family taxonomy is renderer-level presentation config, not a JID field. Colour is always duplicated in text and is never the sole carrier of meaning.