Virginia's full Money Transmission Modernization Act implementation, H.B. 1942, became effective on July 1, 2026. That means the updated Virginia money transmission framework was already in force throughout July 12 to July 26, 2026.
What changed
Virginia fully implemented the MTMA framework for money transmission regulation.
Compliance perspective
Money transmitters with Virginia activity should review licensing, net worth, permissible investment, and reporting requirements against the MTMA-based framework. Companies operating in multiple states should also compare Virginia's version to other MTMA states because state adoption details can still vary.
Key date
Effective date: July 1, 2026.
Need help staying compliant?
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.