HB 263

  • Virginia House Bill
  • 2022 Regular Session
  • Introduced in House Jan 11, 2022
  • Passed House Feb 02, 2022
  • Passed Senate Mar 03, 2022
  • Signed by Governor Apr 11, 2022

Banks; virtual currency custody services.

Abstract

Banks; virtual currency custody services. Permits banks in the Commonwealth to provide virtual currency custody services so long as the bank has adequate protocols in place to effectively manage the associated risks. The bill defines "virtual currency" and provides that a bank may choose to offer such custody services in a nonfiduciary capacity or a fiduciary capacity. If it chooses to provide such custody services in a fiduciary capacity, it must possess trust powers and have a trust department approved by the State Corporation Commission.

Banks; virtual currency custody services.Permits banks in the Commonwealth to provide virtual currency custodyservices so long as the bank has adequate protocols in place to effectivelymanage the associated risks. The bill defines "virtual currency"and provides that a bank may choose to offer such custody servicesin a nonfiduciary capacity or a fiduciary capacity. If it choosesto provide such custody services in a fiduciary capacity, it mustpossess trust powers and have a trust department approved by theState Corporation Commission.

Bill Sponsors (1)

Votes


Actions


Apr 11, 2022

Office of the Governor

Approved by Governor-Chapter 623 (effective 7/1/22)

Mar 22, 2022

Office of the Governor

Governor's Action Deadline 11:59 p.m., April 11, 2022

House

Enrolled Bill communicated to Governor on March 22, 2022

Mar 10, 2022

House

Impact statement from SCC (HB263ER)

Mar 08, 2022

House

Signed by Speaker

Senate

Signed by President

House

Enrolled

Mar 03, 2022

Senate

Passed Senate (39-Y 0-N)

Senate

Read third time

Mar 02, 2022

Senate

Constitutional reading dispensed (40-Y 0-N)

Feb 28, 2022

Senate

Reported from Commerce and Labor (15-Y 0-N)

Feb 03, 2022

Senate

Constitutional reading dispensed

Senate

Referred to Committee on Commerce and Labor

Feb 02, 2022

House

VOTE: Block Vote Passage (98-Y 0-N)

House

Read third time and passed House BLOCK VOTE (98-Y 0-N)

Feb 01, 2022

House

Printed as engrossed 22100187D-E

House

Engrossed by House as amended HB263E

House

Committee amendment agreed to

House

Read second time

Jan 31, 2022

House

Read first time

Jan 27, 2022

House

Reported from Commerce and Energy with amendment(s) (22-Y 0-N)

Jan 25, 2022

House

Subcommittee recommends reporting with amendments (7-Y 0-N)

House

House subcommittee amendments and substitutes offered

Jan 19, 2022

House

Impact statement from SCC (HB263)

Jan 18, 2022

House

Assigned sub: Subcommittee #1

Jan 11, 2022

House

Referred to Committee on Commerce and Energy

House

Prefiled and ordered printed; offered 01/12/22 22100187D

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/12/22 22100187D PDF HTML
Printed as engrossed 22100187D-E PDF HTML
HB263ER PDF HTML
CHAP0623 PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: HB263FER171.PDF PDF
Fiscal Impact Statement: HB263F171.PDF PDF
Amendment: HB263AH HTML

Sources

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