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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 HB 665.
Introduced
Jan 13, 2026
Last Action
Mar 10, 2026
Session
VA 2026
Sponsors
1 primary · 3 co
Enrolled Bill communicated to Governor on March 10, 2026
Governor's Action Deadline 11:59 p.m., April 13, 2026
Signed by President
Enrolled
Signed by Speaker
Bill text as passed Senate and House (SB489ER)
House Amendments agreed to by Senate (40-Y 0-A 0-A)
Read third time
Passed House with amendments (86-Y 10-N 0-A)
Engrossed by House as amended
committee amendments agreed to
Read second time
Reported from Communications, Technology and Innovation with amendment(s) (19-Y 3-N)
House committee offered
Read first time
Placed on Calendar
Referred to Committee on Communications, Technology and Innovation
Read third time and passed Senate (40-Y 0-N 0-A)
Read second time
Engrossed by Senate - committee substitute (Voice Vote)
Commerce and Labor Substitute agreed to
Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A)
Fiscal Impact Statement from State Corporation Commission (SB489)
Passed by for the day (Voice Vote)
Rules suspended
Reported from Finance and Appropriations
Committee substitute printed 26106150D-S1
Senate committee offered
Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (11-Y 0-N 4-A)
Fiscal Impact Statement from State Corporation Commission (SB489)
Prefiled and ordered printed; Offered 01-14-2026 26104942D
Referred to Committee on Commerce and Labor
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
Saddam Azlan Salim