VirginiaFinancial institutions and services; virtual currency kiosk operators, license required, penalties.
What it does
Financial institutions and services; virtual currency kiosk operators; license required; penalties. Establishes requirements for the operation of virtual currency kiosks, as defined in the bill, including a requirement that a virtual currency kiosk operator obtain licensure with the State Corporation Commission. The bill requires operators to file annual and quarterly reports, provide certain disclosures, and take reasonable steps to detect and prevent fraud and money laundering.
More detail
The bill prohibits operators from accepting transactions above specified daily and monthly limits and establishes a maximum transaction charge of 18 percent of the value of such transaction. A person who violates the bill's provisions is subject to a fine of up to $1,000 per violation as well as the existing enforcement provisions of the Virginia Consumer Protection Act. This bill is identical to HB 665.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 13Acts of Assembly Chapter text (CHAP0655)Latest
- Apr 13Approved by Governor Abigail Spanberger-Chapter 655 (effective 7/1/2026)Became Law
- Mar 24Fiscal Impact Statement from State Corporation Commission (SB489)
- Mar 10Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 10Enrolled Bill communicated to Governor on March 10, 2026Minor
- Mar 5Signed by PresidentMajor
- Mar 5Signed by SpeakerMajor
- Mar 5Bill text as passed Senate and House (SB489ER)Major
- Mar 5EnrolledMinor
- Mar 2House Amendments agreed to by Senate (40-Y 0-A 0-A)Major
- Vote recorded Concur House Amendments R. Result: pass.Upper
- Feb 26Passed House with amendments (86-Y 10-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 26Engrossed by House as amended
- Feb 26committee amendments agreed toMajor
- Feb 26Read third timeMinor
- Feb 25Read second timeMinor
- Feb 23House committee offered
- Vote recorded Reported from Communications, Technology and Innovation with amendment(s). Result: pass.Lower
- Feb 23Reported from Communications, Technology and Innovation with amendment(s) (19-Y 3-N)Minor
- Feb 23House committee offered
- Feb 12Referred to Committee on Communications, Technology and InnovationMinor
- Feb 12Read first timeMinor
- Feb 12Placed on Calendar
- Feb 9Read third time and passed Senate (40-Y 0-N 0-A)Passed Senate
- Vote recorded Passage R. Result: pass.Upper
- Feb 6Engrossed by Senate - committee substitute (Voice Vote)Major
- Feb 6Commerce and Labor Substitute agreed to
- Feb 6Read second timeMinor
- Feb 5Fiscal Impact Statement from State Corporation Commission (SB489)
- Vote recorded Constitutional reading dispensed R. Result: pass.Upper
- Feb 5Passed by for the day (Voice Vote)
- Feb 5Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
- Feb 5Rules suspended
- Feb 4Reported from Finance and AppropriationsMinor
- Vote recorded Reported from Finance and Appropriations. Result: pass.Upper
- Jan 27Committee substitute printed 26106150D-S1Major
- Jan 26Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (11-Y 0-N 4-A)Minor
- Vote recorded Reported from Commerce and Labor with substitute. Result: pass.Upper
- Jan 26Senate committee offered
- Jan 26Fiscal Impact Statement from State Corporation Commission (SB489)
- Jan 13Referred to Committee on Commerce and LaborMinor
- Jan 13Prefiled and ordered printed; Offered 01-14-2026 26104942DIntroduced