West Virginia HB5353: To bring virtual currency kiosks within the purview of money transmission licensure and create disclosure requirements and daily transaction limitations for new and existing customers.

What the bill says

An act to amend and reenact §32A-2-1, §32A-2-4, §32A-2-17, and §32A-2-27 of the Code of West Virginia, 1931, as amended; and to amend the code by adding a new section, designated §32A-2-8c, relating to requirements for licensure and regulation of money transmission services; bringing virtual currency kiosks within the purview of money transmission licensure; defining terms and modifying definitions; designating a start date for licensure of virtual currency kiosk operators; setting forth disclosure requirements for licensee; imposing receipt requirements for virtual currency kiosk transactions.

From the enrolled text, March 14, 2026:

AN ACT to amend and reenact §32A-2-1, §32A-2-4, §32A-2-17, and §32A-2-27 of the Code of West Virginia, 1931, as amended; and to amend the code by adding a new section, designated §32A-2-8c, relating to requirements for licensure and regulation of money transmission services; bringing virtual currency kiosks within the purview of money transmission licensure; defining terms and modifying definitions; designating a start date for licensure of virtual currency kiosk operators; setting forth disclosure requirements for licensee; imposing receipt requirements for virtual currency kiosk transactions and specifying receipt content; requiring licensee to have designated contact for law enforcement; imposing daily transaction limits; requiring cancelation and refund for fraudulent virtual currency transactions under specified circumstances; providing for a resolution of conflicts between state and federal law as it relates to money transmission and authorizing Commissioner of Financial Institutions to provide interpretive guidance; imposing requirements on licensee; and specifying that virtual currency kiosks are delegates of a money transmission licensee. ARTICLE 2. CHECKS AND MONEY ORDER SALES, MONEY TRANSMISSION SERVICES, TRANSPORTATION, AND CURRENCY EXCHANGE. §32A-2-1. Definitions. (a) "Acting in concert" means persons knowingly acting together with a common goal of jointly acquiring control of a licensee whether or not pursuant to an express agreement. (b) "Average daily money transmission liability" means the amount of the licensee's outstanding money transmission obligations in this state …