Virginia's new money transmitter chapter was visible during the May 13 to May 27, 2026 period with an effective date of July 1, 2026. The law requires a license to engage in money transmission or hold out as a money transmitter, subject to exemptions, and adds a consistent state licensing provision allowing use of NMLS for applications, control changes, bonding, reporting, fee processing, background checks, and examinations.
What changed
Virginia added a new money transmitter statutory framework with express NMLS-enabled licensing administration and related operating requirements.
Compliance perspective
Businesses serving Virginia should confirm whether they need a new license, an amendment, authorized delegate changes, or NMLS workflow updates before the law takes effect. This is a significant operational item for payments and stored-value businesses because it ties core licensing functions to a new statutory chapter.
Key date
Effective date: July 1, 2026.
Need help keeping up with these changes?
Tell us where you operate and what licenses you hold; we'll handle the filings and renewals so changes like this do not catch you off guard.