KentuckyAN ACT relating to the regulation of digital asset business.
What it does
Establish Subtitle 13 of KRS Chapter 286 and create new sections thereof to regulate virtual currency kiosks; establish definitions; provide for enforcement by the commissioner of the Department of Financial Institutions; establish license requirements for virtual currency kiosks; require regulatory filings to be submitted to a nationwide licensing system registry; establish initial and renewal application processes and requirements, reporting, surety bond and tangible net worth, and change of control requirements for virtual currency kiosk operators; require the commissioner to promulgate administrative regulations to establish format, document submission, fee, and trade practice requirements for virtual currency kiosk operators; establish record retention requirements for persons required to be licensed as virtual currency kiosk operators; establish trade practice requirements relating to protection of resident assets, virtual currency kiosk transactions, prohibited practices, and fraud and information security compliance procedures; authorize the commissioner to conduct investigations and examinations; provide for the confidentiality of certain documents provided to the commissioner; authorize the commissioner to share, disclose, and report information and take other actions to assist in the commissioner's duties; require the commissioner to submit an annual licensing report to the Legislative Research Commission; establish due process requirements for adverse actions taken by the commissioner against licensees and other persons; establish requirements for the denial, suspension, or revocation of a license; authorize the commissioner to enter cease and desist orders and emergency orders; authorize the commissioner to order civil penalties against persons that violate the subtitle; require the commissioner of the Department of Financial Institutions to promulgate any required emergency and ordinary administrative regulations on or before January 1, 2027; EFFECTIVE, in part, March 31, 2027.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 13signed by Governor Andy Beshear (Acts Ch. 126)Became Law
- Apr 1delivered to Governor
- Vote recorded FINAL PASSAGE OF SB 189 w/ HCS 1, HFA 2, HCA 1 (T). Result: pass.Upper
- Vote recorded Pass. Result: pass.Lower
- Vote recorded Adopt. Result: pass.Lower
- Apr 1enrolled, signed by Speaker of the HouseTo Governor
- Apr 1enrolled, signed by President of the SenateMajor
- Apr 1passed 38-0Major
- Apr 1Senate concurred in Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)
- Apr 1posted for passage for concurrence in House Floor Amendment (2), Committee Substitute (1) and Committee Amendment (1-title)
- Apr 1to Rules (S)Minor
- Apr 1received in Senate
- Apr 13rd reading, passed 81-7 with Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)Passed House
- Apr 1floor amendment (2) adopted
- Apr 1Committee Substitute (1) adopted
- Mar 31floor amendment (3) filed to Committee SubstituteMinor
- Mar 27posted for passage in the Regular Orders of the Day for Tuesday, March 31 2026
- Mar 26floor amendment (2) filed to Committee SubstituteMinor
- Mar 262nd reading, to RulesMinor
- Mar 25floor amendment (1) filed to Committee SubstituteMinor
- Mar 25reported favorably, 1st reading, to Calendar with Committee Substitute (1) and Committee Amendment (1-title)Minor
- Mar 24to Banking & Insurance (H)Minor
- Mar 3to Committee on Committees (H)Minor
- Mar 3received in House
- Mar 2passed 37-0 with Committee Substitute (1) and Floor Amendment (2)Passed Senate
- Vote recorded PASS SB 189 w/ SCS 1, SFA 2. Result: pass.Upper
- Mar 2floor amendment (1) withdrawn
- Mar 23rd readingMinor
- Feb 27passed over and retained in the Orders of the Day
- Feb 26posted for passage in the Regular Orders of the Day for Friday, February 27 2026
- Feb 26floor amendment (2) filed to Committee SubstituteMinor
- Feb 252nd reading, to RulesMinor
- Feb 25floor amendment (1) filed to Committee SubstituteMinor
- Feb 24reported favorably, 1st reading, to Calendar with Committee Substitute (1)Minor
- Feb 20to Banking & Insurance (S)Minor
- Feb 12to Committee on Committees (S)Minor
- Feb 12introduced in SenateIntroduced