Virginia enacts virtual currency kiosk licensing and regulatory framework

On April 13, Virginia enacted HB 665, establishing a licensing and regulatory framework for virtual currency kiosk operators. The law mandates that any operator of a virtual currency kiosk must obtain a license from the State Corporation Commission (SCC) before engaging in virtual currency kiosk transactions or locating kiosks in the state.... By: Orrick, Herrington & Sutcliffe LLP