Virginia updated its money transmission law effective July 22, 2026 to expressly authorize participation in multistate supervisory processes coordinated through CSBS and the Money Transmitter Regulators Association. The update preserves Virginia's independent enforcement authority while modernizing supervision.
What changed
Virginia expressly added statutory authority for multistate supervision of money transmitters.
Compliance perspective
Money transmitter licensees in Virginia should expect more coordinated exams and information-sharing with other state regulators. Prepare for multistate supervisory requests, standardized exam coordination, and broader visibility into enterprise controls across states.
Key date
Effective date: July 22, 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.