Virginia Bitcoin ATM Regulations
Virginia enacted HB 665 in April 2026 — one of the most comprehensive Bitcoin ATM frameworks in the country. The 28-section law creates a State Corporation Commission licensing regime, an 18% fee cap, transaction limits, a 48-hour hold for new users, mandatory blockchain analytics, and a 90-day scam refund window, rolling out in two phases (licensing in 2026, consumer protections in 2027).
Overview
On April 13, 2026, Virginia Governor Glenn Youngkin signed HB 665 into law as Chapter 654 of the 2026 Acts of Assembly, creating a 28-section licensing and consumer-protection regime for Bitcoin ATMs in the Commonwealth.
The bill was sponsored by Delegate Michelle Maldonado (D-020) with seven co-sponsors. The House version passed 84-13; the Senate companion passed unanimously. The framework rolls out in two phases — a licensing-only phase beginning July 1, 2026, and a substantive consumer-protection phase beginning July 1, 2027.
Licensing Requirements
Effective July 1, 2026, every Bitcoin ATM operator with a kiosk in Virginia must obtain a license from the Virginia State Corporation Commission (SCC) before conducting any transactions. Operating without a license voids all transactions and strips the operator of any right to collect fees.
The Commission has authority to accept applications, conduct investigations, and require surety bonds. The law deliberately phases licensing a full year ahead of the operational rules, giving the SCC time to build out a kiosk-licensing program and giving operators time to come into compliance.
Fee Caps
Effective July 1, 2027, total Bitcoin ATM fees are capped at 18% of the transaction. The cap is inclusive — it covers the spread between the market price and the price the operator charges, not just an explicit transaction fee. At 18%, Virginia's cap is below the 20–25% effective rates state attorneys general have alleged in recent enforcement actions, but it is well above what consumers pay for comparable financial services.
Transaction Limits
Effective July 1, 2027:
- New users: $2,000 per calendar day. Plus a 48-hour hold on the first transaction — the customer can cancel during the hold window for a full refund.
- All users: $5,000 per calendar day, with a $10,000 rolling 30-day cap.
Anti-Fraud Measures
HB 665 imposes active anti-fraud controls in addition to passive disclosures:
- Blockchain analytics screening on every transaction to block known fraudulent destination addresses.
- Mandatory scam warnings at every kiosk.
- 90-day scam refund window for documented fraud-induced transactions.
- ATM branding ban — operators cannot label kiosks as "ATMs" or use ATM-style branding that could mislead consumers about the nature of the transaction.
- Quarterly reporting to the State Corporation Commission.
- Customer-service requirements for kiosk operators.
Legislative Reference
Primary statute: Chapter 654 of the 2026 Acts of Assembly (HB 665). Sponsor: Delegate Michelle Maldonado (D-020).
Primary regulator: Virginia State Corporation Commission.
Phased effective dates: licensing — July 1, 2026; consumer protections and operational requirements — July 1, 2027.