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 SB 489.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 13Acts of Assembly Chapter text (CHAP0654)Latest
- Apr 13Approved by Governor Abigail Spanberger-Chapter 654 (effective 7/1/2026)Became Law
- Apr 6Fiscal Impact Statement from State Corporation Commission (HB665)
- Mar 14Governor's Action Deadline 11:59 p.m., April 13, 2026To Governor
- Mar 14Enrolled Bill communicated to Governor on March 14, 2026Minor
- Mar 12Signed by SpeakerMajor
- Mar 11Signed by PresidentMajor
- Mar 11Bill text as passed House and Senate (HB665ER)Major
- Mar 11EnrolledMinor
- Mar 4Senate substitute agreed to by House (84-Y 10-N 0-A)Major
- Vote recorded H VOTE:. Result: pass.Lower
- Vote recorded Passage R. Result: pass.Upper
- Mar 4Passed Senate with substitute (40-Y 0-N 0-A)Passed Senate
- Mar 4Engrossed by Senate - committee substituteMajor
- Mar 4Commerce and Labor Substitute agreed to
- Mar 4Read third timeMinor
- Mar 3Passed by for the day (Voice Vote)
- Vote recorded Constitutional reading dispensed (on 2nd reading). Result: pass.Upper
- Vote recorded Reported from Finance and Appropriations. Result: pass.Upper
- Mar 3Constitutional reading dispensed (on 2nd reading) (40-Y 0-N 0-A)
- Mar 3Rules suspended
- Mar 3Reported from Finance and Appropriations (15-Y 0-N)Minor
- Mar 2Fiscal Impact Statement from State Corporation Commission (HB665)
- Feb 24Committee substitute printed 26108481D-S1Major
- Feb 23Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (13-Y 0-N 1-A)Minor
- Vote recorded Reported from Commerce and Labor with substitute. Result: pass.Upper
- Feb 23Senate committee offered
- Feb 9Referred to Committee on Commerce and LaborMinor
- Feb 9Constitutional reading dispensed (on 1st reading)
- Feb 6Read third time and passed House (84-Y 13-N 0-A)Passed House
- Vote recorded H VOTE:. Result: pass.Lower
- Feb 5Engrossed by House - committee substituteMajor
- Feb 5committee substitute agreed toMajor
- Feb 5Read second timeMinor
- Feb 4Fiscal Impact Statement from State Corporation Commission (HB665)
- Feb 4Read first timeMinor
- Feb 2Committee substitute printed 26106154D-H1Major
- Vote recorded Reported from Communications, Technology and Innovation with substitute. Result: pass.Lower
- Feb 2Reported from Communications, Technology and Innovation with substitute (16-Y 6-N)Minor
- Feb 2House committee offered
- Jan 27Fiscal Impact Statement from State Corporation Commission (HB665)
- Jan 13Referred to Committee on Communications, Technology and InnovationMinor
- Jan 13Prefiled and ordered printed; Offered 01-14-2026 26105316DIntroduced