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Action required Virginia state financial regulators VA Jul 19, 2026

Virginia Money Transmission Modernization Act became effective

Virginia's full Money Transmission Modernization Act enactment became effective on July 1, 2026. This was the clearest confirmed state money transmission licensing change closest to the July 5 to July 19, 2026 period.

Virginia's full Money Transmission Modernization Act enactment became effective on July 1, 2026. This was the clearest confirmed state money transmission licensing change closest to the July 5 to July 19, 2026 period.

What changed

Virginia implemented a full MTMA-based money transmission framework. The change aligned Virginia more closely with the CSBS modernization model for licensing and prudential requirements.

Compliance perspective

Money transmitters licensed or seeking licensure in Virginia should review state-specific changes to surety, net worth, permissible investments, reporting, and related requirements under the MTMA framework. Multistate operators should also assess whether Virginia changes affect broader licensing harmonization plans.

Key date

Effective date: July 1, 2026.

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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.

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    Read explainer
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