# Virginia SB489: Financial institutions and services; virtual currency kiosk operators, license required, penalties.

Virginia SB489, Financial institutions and services; virtual currency kiosk operators, license required, penalties., is a 2026 Regular Session Senate bill sponsored by Saddam Azlan Salim (Democratic); status signed, last action 2026-04-13 (Acts of Assembly Chapter text (CHAP0655)); PRIA reads it as touching household money (as of 2026-10-12).

- Canonical: https://policyrisk.com/state-bill/VA-SB489-2026
- As of: 2026-10-12
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: Virginia SB489
- State: Virginia
- Session: 2026 Regular Session
- Title: Financial institutions and services; virtual currency kiosk operators, license required, penalties.
- Status: signed
- Chamber: Senate
- Introduced: 2026-01-13
- Last action: 2026-04-13, Acts of Assembly Chapter text (CHAP0655)
- Sponsor: Saddam Azlan Salim (Democratic)
- Cosponsors: 0
- Touches household money: yes
- Roll calls: 9 (251 yes, 13 no in all)
- Economic provisions PRIA read: 12

## Summary

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.

## Bill overview: provisions PRIA read

- Fraud victims can recover kiosk fees: benefit, low. Beginning July 1, 2027, operators must refund fees from fraud-related kiosk transactions, whether you authorized the transaction or not. You must notify the operator within 90 days after the transaction. Within 120 days after the transaction, you must submit a police report, government agency repor…
- Kiosk users get an 18% charge cap: benefit, low. Beginning July 1, 2027, total kiosk charges cannot exceed 18% of a transaction's value. Charges include fees, exchange-price markups, and wallet, exchange, and transfer costs. The cap also includes charges tied to the operator's required annual state fee.
- Kiosk users get warnings and live help: benefit, low. Beginning July 1, 2027, each kiosk interaction requires clear terms in your chosen language and your acknowledgment. Details include charges, exchange rates, scam warnings, owner and fraud-reporting contacts, and currency risks. Risk notices must explain the lack of U.S. government backing, legal-t…
- Kiosk users gain stronger enforcement protections: benefit, low. Beginning July 1, 2027, kiosk-rule violations also trigger Virginia Consumer Protection Act enforcement. The State Corporation Commission can suspend or revoke licenses for violations, fraud-related findings, denied examinations, unpaid fees, or ignored orders. It can order violations stopped, act…
- Kiosk operators and hosts must allow inspections: cost, low. Beginning July 1, 2027, the State Corporation Commission must examine each licensed operator at least once every three years. It can investigate relevant business affairs, premises, and records. Relevant owners and staff must provide demanded access and information. Contracts with businesses hostin…
- Kiosk operators face ownership and location rules: cost, low. Beginning July 1, 2027, licenses cannot be transferred, and kiosks can display only the licensed legal or business name. Operators must report kiosk openings, moves, removals, deactivations, and specified leadership changes within 10 days, including new leaders' names, addresses, and positions. Acq…
- Kiosk operators pay new regulatory fees: cost, low. License applicants must pay a state-set, nonrefundable application fee, with no refund when a license is surrendered, suspended, or revoked. Beginning July 1, 2027, licensed operators also owe annual supervision fees based on business volume and regulatory costs. The state assesses annual fees by A…
- Kiosk fraud tracking also blocks some payments: mixed, low. Beginning July 1, 2027, operators must maintain written fraud controls and follow relevant federal Bank Secrecy Act requirements. They must use blockchain tracking software and show proof of its use when the state requests it. Operators must block payments to wallets tied to overseas exchanges that…
- Kiosk users face limits and cancellation holds: mixed, low. Beginning July 1, 2027, new users face a $2,000 daily limit; all users face $5,000 daily and $10,000 monthly limits. These limits count U.S. dollars or the equivalent value in virtual currency. Under the 14-day rule, users who transact on three or more days within 14 days leave new-user limits afte…
- Kiosk users must share identity details: mixed, low. Beginning July 1, 2027, operators must verify your identity before accepting payment for each attempted kiosk transaction. They must collect a copy of government-issued identification, your name, birth date, phone number, address, and email. Transactions cannot proceed under anyone else's identity.…
- Kiosk licenses and bonds protect users: mixed, low. Virginia accepts license applications starting March 1, 2027, and issues licenses beginning July 1, 2027. Operators need a license before placing Virginia kiosks or offering transactions, whether or not they hold currency for users. Sworn applications must identify applicants and locations; approva…
- Kiosk operators report business and user data: mixed, low. Beginning July 1, 2027, operators must keep required records at licensed offices, separate from records for their other businesses. State requests require responses by the stated deadline, or within 30 days when none is stated. Sworn annual reports are due March 31; location reports are due 45 days…

## Sponsors and cosponsors

- Sponsor: Saddam Azlan Salim (Democratic), Senate

## Roll call votes

| Date | Chamber | Motion | Result | Yes | No | Other |
| --- | --- | --- | --- | --- | --- | --- |
| 2026-03-02 | Senate | House Amendments agreed to by Senate (40-Y 0-A 0-A) | pass | 40 | 0 |   |
| 2026-02-26 | House | Passed House with amendments | pass | 86 | 10 |   |
| 2026-02-23 | House | Reported from Communications, Technology and Innovation with amendment(s) | pass | 19 | 3 |   |
| 2026-02-09 | Senate | Read third time and passed Senate | pass | 40 | 0 |   |
| 2026-02-06 | Senate | Commerce and Labor Substitute agreed to | pass | 0 | 0 |   |
| 2026-02-05 | Senate | Passed by for the day Block Vote (Voice Vote) | pass | 0 | 0 |   |
| 2026-02-05 | Senate | Constitutional reading dispensed Block Vote (on 1st reading) | pass | 40 | 0 |   |
| 2026-02-04 | Senate | Reported from Finance and Appropriations | pass | 15 | 0 |   |
| 2026-01-26 | Senate | Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations | pass | 11 | 0 | 4 |

## Actions (36)

- 2026-04-13: Acts of Assembly Chapter text (CHAP0655) (Governor)
- 2026-04-13: Approved by Governor-Chapter 655 (effective 7/1/2026) (Governor)
- 2026-03-24: Fiscal Impact Statement from State Corporation Commission (SB489) (Senate)
- 2026-03-10: Governor's Action Deadline 11:59 p.m., April 13, 2026 (Governor)
- 2026-03-10: Enrolled Bill communicated to Governor on March 10, 2026 (Senate)
- 2026-03-05: Bill text as passed Senate and House (SB489ER) (Senate)
- 2026-03-05: Enrolled (Senate)
- 2026-03-05: Signed by President (Senate)
- 2026-03-05: Signed by Speaker (House)
- 2026-03-02: House Amendments agreed to by Senate (40-Y 0-A 0-A) (Senate)
- 2026-02-26: Passed House with amendments (86-Y 10-N 0-A) (House)
- 2026-02-26: Engrossed by House as amended (House)
- 2026-02-26: committee amendments agreed to (House)
- 2026-02-26: Read third time (House)
- 2026-02-25: Read second time (House)
- 2026-02-23: House committee offered (House)
- 2026-02-23: House committee offered (House)
- 2026-02-23: Reported from Communications, Technology and Innovation with amendment(s) (19-Y 3-N) (House)
- 2026-02-12: Referred to Committee on Communications, Technology and Innovation (House)
- 2026-02-12: Read first time (House)
- 2026-02-12: Placed on Calendar (House)
- 2026-02-09: Read third time and passed Senate (40-Y 0-N 0-A) (Senate)
- 2026-02-06: Commerce and Labor Substitute agreed to (Senate)
- 2026-02-06: Engrossed by Senate - committee substitute (Voice Vote) (Senate)
- 2026-02-06: Read second time (Senate)
- 2026-02-05: Fiscal Impact Statement from State Corporation Commission (SB489) (Senate)
- 2026-02-05: Passed by for the day Block Vote (Voice Vote) (Senate)
- 2026-02-05: Constitutional reading dispensed Block Vote (on 1st reading) (40-Y 0-N 0-A) (Senate)
- 2026-02-05: Rules suspended (Senate)
- 2026-02-04: Reported from Finance and Appropriations (Senate)
- 2026-01-27: Committee substitute printed 26106150D-S1 (Senate)
- 2026-01-26: Fiscal Impact Statement from State Corporation Commission (SB489) (Senate)
- 2026-01-26: Senate committee offered (Senate)
- 2026-01-26: Reported from Commerce and Labor with substitute and rereferred to Finance and Appropriations (11-Y 0-N 4-A) (Senate)
- 2026-01-13: Referred to Committee on Commerce and Labor (Senate)
- 2026-01-13: Prefiled and ordered printed; Offered 01-14-2026 26104942D (Senate)

## Bill text

- Chaptered, 2026-04-13: [HTML](https://lis.blob.core.windows.net/files/1221630.HTML), [PDF](https://lis.blob.core.windows.net/files/1221629.PDF)
- Enrolled, 2026-03-05: [HTML](https://lis.blob.core.windows.net/files/1191587.HTML), [PDF](https://lis.blob.core.windows.net/files/1191586.PDF)
- Amendment, 2026-02-26: [HTML](https://lis.blob.core.windows.net/files/1184685.HTML)
- Amendment, 2026-02-23: [HTML](https://lis.blob.core.windows.net/files/1171867.HTML), [HTML](https://lis.blob.core.windows.net/files/1171955.HTML)
- Substitute, 2026-02-05: [HTML](https://lis.blob.core.windows.net/files/1096802.HTML), [PDF](https://lis.blob.core.windows.net/files/1096801.PDF)
- Substitute, 2026-01-27: [HTML](https://lis.blob.core.windows.net/files/1097396.HTML), [PDF](https://lis.blob.core.windows.net/files/1097395.PDF)
- Introduced, 2026-01-13: [HTML](https://lis.blob.core.windows.net/files/1090486.HTML), [PDF](https://lis.blob.core.windows.net/files/1090485.PDF)

## Related bills

- HB5: Employment; paid sick leave, civil penalties. (signed)
- SB199: Employment; paid sick leave, civil penalties. (signed)
- HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with rental agreement. (signed)
- HB1393: Electric utilities; pilot program for energy assistance and weatherization for certain individuals. (signed)
- HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, termination by landlord. (signed)
- HB675: Protection of employees; coercion or threat based on immigration status, civil penalty. (signed)

## Sources
- [Chaptered (HTML)](https://lis.blob.core.windows.net/files/1221630.HTML)
- [Chaptered (PDF)](https://lis.blob.core.windows.net/files/1221629.PDF)
- [Enrolled (HTML)](https://lis.blob.core.windows.net/files/1191587.HTML)
- [Enrolled (PDF)](https://lis.blob.core.windows.net/files/1191586.PDF)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1184685.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1171867.HTML)
- [Amendment (HTML)](https://lis.blob.core.windows.net/files/1171955.HTML)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1096802.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1096801.PDF)
- [Substitute (HTML)](https://lis.blob.core.windows.net/files/1097396.HTML)
- [Substitute (PDF)](https://lis.blob.core.windows.net/files/1097395.PDF)
- [Introduced (HTML)](https://lis.blob.core.windows.net/files/1090486.HTML)
- [Introduced (PDF)](https://lis.blob.core.windows.net/files/1090485.PDF)

## Related
- [HB5: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-HB5-2026)
- [SB199: Employment; paid sick leave, civil penalties.](https://policyrisk.com/state-bill/VA-SB199-2026)
- [HB95: Va. Residential Landlord and Tenant Act; landlord remedies, noncompliance with…](https://policyrisk.com/state-bill/VA-HB95-2026)
- [HB1393: Electric utilities; pilot program for energy assistance and weatherization for…](https://policyrisk.com/state-bill/VA-HB1393-2026)
- [HB834: Virginia Residential Landlord and Tenant Act; fire or casualty damage, terminat…](https://policyrisk.com/state-bill/VA-HB834-2026)
- [HB675: Protection of employees; coercion or threat based on immigration status, civil…](https://policyrisk.com/state-bill/VA-HB675-2026)
- [Virginia bills](https://policyrisk.com/states/virginia/bills)
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Source: PRIA, https://policyrisk.com/state-bill/VA-SB489-2026 (as of 2026-10-12).