Kentucky legislation · 2026 Regular Session
Kentucky SB189: AN ACT relating to the regulation of digital asset business.
Status: Signed into law, April 13, 2026
Establish Subtitle 13 of KRS Chapter 286 and create new sections thereof to regulate virtual currency kiosks; establish definitions; provide for enforcement by the commissioner of the Department of Financial Institutions; establish license requirements for virtual currency kiosks; require regulatory filings to be submitted to a nationwide licensing system registry; establish initial and renewal application processes and requirements, reporting, surety bond and tangible net worth, and change of control requirements for virtual currency kiosk operators; require the commissioner to promulgate administrative regulations to establish format, document submission, fee, and trade practice requirements for virtual currency kiosk operators; establish record retention requirements for persons required to be licensed as virtual currency kiosk operators; establish trade practice requirements relating to protection of resident assets, virtual currency kiosk transactions, prohibited practices, and fraud and information security compliance procedures; authorize the commissioner to conduct investigations and examinations; provide for the confidentiality of certain documents provided to the commissioner; authorize the commissioner to share, disclose, and report information and take other actions to assist in the commissioner's duties; require the commissioner to submit an annual licensing report to the Legislative Research Commission; establish due process requirements for adverse actions taken by the commissioner against licensees and other persons; establish requirements for the denial, suspension, or revocation of a license; authorize the commissioner to enter cease and desist orders and emergency orders; authorize the commissioner to order civil penalties against persons that violate the subtitle; require the commissioner of the Department of Financial Institutions to promulgate any required emergency and ordinary administrative regulations on or before January 1, 2027; EFFECTIVE
What the bill says
An act relating to the regulation of virtual currency kiosks.
From the committee substitute text:
AN ACT relating to the regulation of virtual currency kiosks. Be it enacted by the General Assembly of the Commonwealth of Kentucky: SECTION 1. SUBTITLE 13 OF KRS CHAPTER 286 IS ESTABLISHED, AND A NEW SECTION THEREOF IS CREATED TO READ AS FOLLOWS: As used in this subtitle, unless the context requires otherwise: (1) "Affiliate" means a person that, either directly or indirectly through one (1) or more intermediaries, controls, is controlled by, or is under common control with another person; (2) "Agent": (a) Means a person authorized by written agreement and designated by a virtual currency kiosk operator to engage in virtual currency kiosk business in this state on behalf of the operator; (b) Includes, as the context requires, a person that an applicant proposes to engage in virtual currency kiosk business in this state as an agent on behalf of the applicant; and (c) Does not include an employee of a virtual currency kiosk operator or applicant; (3) "Control" means one (1) or more of the following: (a) The power to direct the management, operations, or policies of a person, which power may and 2. Obtained: a. Through legal or beneficial ownership of voting power in the person; or b. Under a contract, arrangement, or understanding; (b) The power to vote, directly or indirectly, at least twenty-five percent …
Sponsors
- Steve Rawlings (R, SD-011) · primary sponsor
- Robert Mills (R, SD-004)
Latest actions
- : signed by Governor (Acts Ch. 126)
- : delivered to Governor
- : enrolled, signed by Speaker of the House
- : enrolled, signed by President of the Senate
- : passed 38-0
- : Senate concurred in Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)
- : posted for passage for concurrence in House Floor Amendment (2), Committee Substitute (1) and Committee Amendment (1-title)
- : to Rules (S)
- : received in Senate
- : 3rd reading, passed 81-7 with Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)
Votes
- Senate: FINAL PASSAGE OF SB 189 w/ HCS 1, HFA 2, HCA 1 (T) (HCS 1) RSN# 4122 (April 1, 2026): 38 yea, 0 nay, passed
- House: Pass RCS# 419 (April 1, 2026): 81 yea, 7 nay, passed
- House: Adopt (HFA 2) RCS# 418 (April 1, 2026): 81 yea, 3 nay, passed
- Senate: PASS SB 189 w/ SCS 1, SFA 2 (SCS 1) RSN# 3869 (March 2, 2026): 37 yea, 0 nay, passed
Subjects: State Agencies, Commerce, Reports Mandated, Consumer Protection, Peace Officers And Law Enforcement, Licensing, Effective Dates, Delayed, Administrative Regulations And Proceedings
Common questions
- What is SB189?
- SB189 is a bill in the Kentucky Legislature (2026 Regular Session): AN ACT relating to the regulation of digital asset business.
- What does SB189 do?
- In its own words: An act relating to the regulation of virtual currency kiosks.
- What is the status of SB189?
- Signed into law as of April 13, 2026. Latest action: signed by Governor (Acts Ch. 126) (April 13, 2026).
- Who sponsored SB189?
- Steve Rawlings (R, SD-011), with 1 co-sponsor.
- Where is the official record for SB189?
- On the Kentucky Legislature website: https://apps.legislature.ky.gov/record/26rs/sb189.html
Source: official Kentucky record. Tracked by Delilah, AI for legislation across all 50 states and Congress.