Virginia payments and fintech laws

Payments and fintech laws enacted in Virginia

6 payments and fintech laws enacted in the Virginia Legislature in the 2025 and 2026 sessions, newest first. Each links to the legislature's own page.

• HB 190Electronic fund transfers; Office of AG shall convene work group to review fraudulent activity, etc.Enacted 13 April 2026

  What it requires: A financial institution that receives knowledge of fraudulent transactions or occurrences on an account shall take reasonable measures to prevent the continuation of such fraudulent transactions or occurrences, including by providing consumer education materials to the account holder, temporarily suspending all activities on the account, prohibiting further fraudulent transactions or occurrences, and reversing fraudulent transactions or occurrences on the account.

  Payment fraud and scams

• HB 665Financial institutions and services; virtual currency kiosk operators, license required, penalties.Enacted 13 April 2026

  What it requires: Virtual currency kiosk operators must obtain a license from the State Corporation Commission before operating in Virginia. Licensees must maintain bonds of $1,000 to $25,000, comply with transaction limits ($2,000 daily for new users, $5,000 maximum daily, $10,000 monthly), use blockchain analytics software, verify user identity, provide required disclosures and fraud warnings, maintain customer service, file annual and quarterly reports, and limit charges to 18 percent per transaction.

  Virtual currency and crypto kiosks

• SB 489Financial institutions and services; virtual currency kiosk operators, license required, penalties.Enacted 13 April 2026

  What it requires: Virtual currency kiosk operators must obtain a license from the State Corporation Commission before operating in Virginia. Licensees must maintain bonds of $1,000 to $25,000, comply with transaction limits ($2,000 daily for new users, $5,000 daily maximum, $10,000 monthly), use blockchain analytics software, verify user identity, provide required disclosures and fraud warnings, hold new user transactions for 48 hours, charge no more than 18 percent per transaction, and file annual and quarterly reports.

  Virtual currency and crypto kiosks

• HB 1166Financial institutions; check cashers, expiration of registration.Takes effect 1 January 2027

  What it requires: Check cashers required to be registered under this chapter must pay an annual registration fee to the Commission on or before July 1 each year in an amount prescribed by the Commission but not exceeding $250. If a registrant fails to pay by July 1, its registration automatically expires by operation of law.

  Money transmission and licensing

• SB 1371Gift certificates; prohibits imposition of a dormancy fee, etc.Took effect 1 July 2025

  What it requires: Merchants in the Commonwealth must not impose dormancy fees, inactivity charges or fees, or service fees on gift certificates, except those distributed pursuant to award, loyalty, or promotional programs with no other money or value exchanged. Gift certificates must have expiration dates no earlier than five years after issuance or last loading. Merchants must disclose expiration dates and information about value diminution through imprinted statements, telephone numbers, or Internet addresses.

  Prepaid, gift cards and P2P

• HB 1942Financial institutions; regulation of money transmitters, penalty, effective date.Took effect 1 July 2026

  What it requires: Persons engaging in money transmission in Virginia must obtain a license from the State Corporation Commission. Licensees must maintain compliance with net worth, reserve, and bonding requirements, file annual renewal reports, and comply with examination and record-production demands. Authorized delegates must operate under written contracts with licensees and comply with specified limitations on their activities.

  Money transmission and licensing

Payments and fintech in Virginia, by topic

• Prepaid, gift cards and P2P

  4 bills, 1 enacted. Enacted in 14 states.

• Money transmission and licensing

  3 bills, 2 enacted. Enacted in 24 states.

• Payment fraud and scams

  3 bills, 1 enacted. Enacted in 21 states.

• Virtual currency and crypto kiosks

  2 bills, 2 enacted. Enacted in 34 states.

• Interchange and card networks

  1 bill. Enacted in 6 states.

• Earned wage access

  1 bill. Enacted in 7 states.