Agenda - Council Work Session - 10/28/2025

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Attempting to allocate the Stillwater Police Department's resources toward the pursuit and recovery efforts reduces the police department's ability to adequately respond to the existing public safety needs of the residents of the City. (e) Minn. Stat. § 53B.69 uses a defined term of virtual currency, which is commonly referred to as a cryptocurrency. The term is interchangeable, but for purposes of this section, the terminology for this and other defined terms found in Minn. Stat. § 53B.69 shall be used. (f) The Stillwater City Council has determined that an ordinance prohibiting virtual currency kiosks within the City is necessary and appropriate to prevent crime, protect personal property, and promote the health, safety, and welfare of its citizens and a prohibition far outweighs any benefit they provide to the public. (Ord. No. 1233, § 1, 4-15-2025) Sec. 12-211. - Authority. Pursuant to Minn. Stat. § 412.221 subd. 32, the City has the authority to provide for the prevention of crime, the protection of property and the promotion of the general welfare by ordinances consistent with state and federal law. (Ord. No. 1233, § 1, 4-15-2025) Sec. 12-212. - Definitions. The following words, terms, and phrases, when used in this section, shall have the meaning ascribed to them in this subsection, except where the definitions in Minn. Stat. § 53B.69 clearly indicates a different meaning: (a) Virtual currency means a digital representation of value that: (1) Is used as a medium of exchange, unit of account, or store of value; and (2) Is not money, whether or not denominated in money, and thus does not have legal tender status. Virtual currency does not include transactions where a merchant grants, as part of a rewards program, value that cannot be exchanged with the merchant for money, bank credit, or virtual currency. It also does not include digital representation of value issued by or on behalf of a publisher used solely within an online game. (b) Virtual currency kiosk (cryptocurrency kiosk) means an electronic terminal acting as a mechanical agent of the virtual currency kiosk operator enabling the exchange of virtual currency for money, bank credit, or other virtual currency. (c)