Financial institutions and services; virtual currency kiosk operators, license required, penalties.
Summary
This Virginia bill requires virtual currency kiosk operators to obtain a license from the State Corporation Commission and comply with regulations including annual and quarterly reporting, fraud and money laundering prevention measures, and customer disclosures. The bill limits daily and monthly transaction amounts, caps transaction fees at 18 percent, and prohibits operators from exceeding these thresholds. 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 654 (effective 7/1/2026)
Apr 13, 2026
Topics
Co-sponsors (7)
Legislative history
Approved by Governor-Chapter 654 (effective 7/1/2026)
Fiscal Impact Statement from State Corporation Commission (HB665)
Enrolled Bill communicated to Governor on March 14, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026
Signed by Speaker
Enrolled
Bill text as passed House and Senate (HB665ER)
Signed by President
Read third time
Commerce and Labor Substitute agreed to
Engrossed by Senate - committee substitute
Passed Senate with substitute (40-Y 0-N 0-A)
Senate substitute agreed to by House (84-Y 10-N 0-A)
Reported from Finance and Appropriations (15-Y 0-N)
Rules suspended
Constitutional reading dispensed (on 2nd reading) (40-Y 0-N 0-A)
Passed by for the day (Voice Vote)
Fiscal Impact Statement from State Corporation Commission (HB665)
Committee substitute printed 26108481D-S1
Senate committee offered
Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (13-Y 0-N 1-A)
Constitutional reading dispensed (on 1st reading)
Referred to Committee on Commerce and Labor
Read third time and passed House (84-Y 13-N 0-A)
Read second time
committee substitute agreed to
Engrossed by House - committee substitute
Read first time
Fiscal Impact Statement from State Corporation Commission (HB665)
House committee offered
Reported from Communications, Technology and Innovation with substitute (16-Y 6-N)
Committee substitute printed 26106154D-H1
Fiscal Impact Statement from State Corporation Commission (HB665)
Prefiled and ordered printed; Offered 01-14-2026 26105316D
Referred to Committee on Communications, Technology and Innovation