SB887 is a bill in the West Virginia Legislature (2026 Regular Session): Relating to requirements for licensure and regulation of money transmission services.

What is the status of SB887?

In committee as of February 19, 2026. Latest action: To Finance (February 19, 2026).

Barnhart, Trenton (R, 03), with 8 co-sponsors.

Where is the official record for SB887?

On the West Virginia Legislature website: https://www.wvlegislature.gov/bill_status/Bills_history.cfm?input=887&year=2026&sessiontype=RS&btype=bill

West Virginia legislation · 2026 Regular Session

West Virginia SB887: Relating to requirements for licensure and regulation of money transmission services

Q: What does SB887 do?

In its own words: 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.

Status: In committee, February 19, 2026

What the bill says

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 engrossed text, February 19, 2026:

A BILL 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; setting forth maximum fee and commission; 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 at the end …

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West Virginia SB887: Relating to requirements for licensure and regulation of money transmission services

What the bill says

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