Substitute for Raised H.B. No. 5211
Session Year 2024
 


AN ACT CONCERNING VIRTUAL CURRENCY AND MONEY TRANSMISSION.

To: (1) Redefine "permissible investment" and define "receipt" in the money transmission statutes; (2) deem certain persons to be engaged in the business of money transmission and require such persons to be licensed; (3) require money transmission licensees to maintain a plan and accounting regarding winding down operations and to meet certain conditions in order to terminate such licensees' businesses; (4) establish a maximum fee that owners or operators of virtual currency kiosks may charge for a specific service and eliminate a certain requirement for customers to cancel and receive a refund for certain virtual currency transactions; (5) require money transmission licensees, or such licensees' authorized delegates, to provide receipts to senders; and (6) specify that the Banking Commissioner may adopt, amend and rescind regulations, forms and orders governing the business use of nonfungible tokens.

Introduced by:
Banking Committee

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Co-sponsors for Amendment LCO:

Bill History

 Date Action Taken
 5/8/2024In Concurrence
 5/8/2024Senate Passed as Amended by House Amendment Schedule A
 5/8/2024Senate Adopted House Amendment Schedule A
 5/3/2024Senate Calendar Number 452
 5/3/2024Favorable Report, Tabled for the Calendar, Senate
 5/3/2024Immediate Transmittal to the Senate
 5/3/2024House Passed as Amended by House Amendment Schedule A
 5/3/2024House Adopted House Amendment Schedule A 5038
 4/2/2024(LCO)File Number 178
 4/2/2024House Calendar Number 153
 4/2/2024Favorable Report, Tabled for the Calendar, House
 4/2/2024(LCO)Reported Out of Legislative Commissioners' Office
 3/25/2024(LCO)Referred to Office of Legislative Research and Office of Fiscal Analysis 04/02/24 12:00 PM
 3/14/2024(LCO)Filed with Legislative Commissioners' Office
 3/12/2024(BA)Joint Favorable
 3/1/2024Public Hearing 03/05
 2/22/2024Referred to Joint Committee on Banking

Co-sponsors of HB-5211

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