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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. 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.
Introduced
Jan 13, 2026
Last Action
Mar 14, 2026
Session
VA 2026
Sponsors
1 primary · 7 co
Governor's Action Deadline 11:59 p.m., April 13, 2026
Enrolled Bill communicated to Governor on March 14, 2026
Signed by Speaker
Enrolled
Signed by President
Bill text as passed House and Senate (HB665ER)
Commerce and Labor Substitute agreed to
Senate substitute agreed to by House (84-Y 10-N 0-A)
Passed Senate with substitute (40-Y 0-N 0-A)
Engrossed by Senate - committee substitute
Read third time
Reported from Finance and Appropriations (15-Y 0-N)
Passed by for the day (Voice Vote)
Constitutional reading dispensed (on 2nd reading) (40-Y 0-N 0-A)
Rules suspended
Fiscal Impact Statement from State Corporation Commission (HB665)
Committee substitute printed 26108481D-S1
Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (13-Y 0-N 1-A)
Senate committee offered
Referred to Committee on Commerce and Labor
Constitutional reading dispensed (on 1st reading)
Read third time and passed House (84-Y 13-N 0-A)
committee substitute agreed to
Engrossed by House - committee substitute
Read second time
Fiscal Impact Statement from State Corporation Commission (HB665)
Read first time
House committee offered
Committee substitute printed 26106154D-H1
Reported from Communications, Technology and Innovation with substitute (16-Y 6-N)
Fiscal Impact Statement from State Corporation Commission (HB665)
Referred to Committee on Communications, Technology and Innovation
Prefiled and ordered printed; Offered 01-14-2026 26105316D
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Governor's Action Deadline 11:59 p.m., April 13, 2026
Michelle Lopes Maldonado
Jackie H. Glass
Jessica L. Anderson
Michael B. Feggans
Shelly A. Simonds