Financial institutions and services; virtual currency kiosk operators, license required, penalties.
Summary
This Virginia bill establishes licensing and operational requirements for virtual currency kiosk operators under the State Corporation Commission. Operators must obtain a license, file regular reports, implement fraud and money laundering prevention measures, and comply with transaction limits and a maximum 18 percent transaction fee. Violations result in fines up to $1,000 per violation and enforcement under the Virginia Consumer Protection Act.
Sponsor
Last action
Approved by Governor-Chapter 655 (effective 7/1/2026)
Apr 13, 2026
Topics
Co-sponsors (3)
Legislative history
Approved by Governor-Chapter 655 (effective 7/1/2026)
Fiscal Impact Statement from State Corporation Commission (SB489)
Enrolled Bill communicated to Governor on March 10, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026
Enrolled
Bill text as passed Senate and House (SB489ER)
Signed by Speaker
Signed by President
House Amendments agreed to by Senate (40-Y 0-A 0-A)
Read third time
committee amendments agreed to
Engrossed by House as amended
Passed House with amendments (86-Y 10-N 0-A)
Read second time
House committee offered
Reported from Communications, Technology and Innovation with amendment(s) (19-Y 3-N)
House committee offered
Placed on Calendar
Read first time
Referred to Committee on Communications, Technology and Innovation
Read third time and passed Senate (40-Y 0-N 0-A)
Read second time
Commerce and Labor Substitute agreed to
Engrossed by Senate - committee substitute (Voice Vote)
Rules suspended
Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
Passed by for the day (Voice Vote)
Fiscal Impact Statement from State Corporation Commission (SB489)
Reported from Finance and Appropriations
Committee substitute printed 26106150D-S1
Fiscal Impact Statement from State Corporation Commission (SB489)
Senate committee offered
Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (11-Y 0-N 4-A)
Prefiled and ordered printed; Offered 01-14-2026 26104942D
Referred to Committee on Commerce and Labor