HB665
Financial institutions and services; virtual currency kiosk operators, license required, penalties.
Status:
In Senate
Latest Action:
Feb. 6, 2026
House: Read third time and passed House (84-Y 13-N 0-A)
Chief Patron:
Michelle Maldonado (D)
Session:
2026 Regular Session
Summary
As Introduced. 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 ... (More) prevent fraud and money laundering. The bill prohibits operators from accepting transactions above specified daily limits and establishes a maximum transaction charge of 10 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. (Less)-
Bill History
- 01/13/2026 - House: Prefiled and ordered printed; Offered 01-14-2026 26105316D
- 01/13/2026 - House: Referred to Committee on Communications, Technology and Innovation
- 01/27/2026 - House: Fiscal Impact Statement from State Corporation Commission (HB665)
- 01/30/2026 - House: Placed on Communications, Technology and Innovation Agenda
- 02/02/2026 - House: House committee offered
- 02/02/2026 - House: Reported from Communications, Technology and Innovation with substitute (16-Y 6-N)
- 02/02/2026 - House: Committee substitute printed 26106154D-H1
- 02/04/2026 - House: Read first time
- 02/04/2026 - House: Fiscal Impact Statement from State Corporation Commission (HB665)
- 02/05/2026 - House: Read second time
- 02/05/2026 - House: committee substitute agreed to
- 02/05/2026 - House: Engrossed by House - committee substitute
- 02/06/2026 - House: Read third time and passed House (84-Y 13-N 0-A)
