CSBS reported that Virginia adopted the Money Transmission Modernization Act in full, effective July 1, 2026. The law aligns Virginia with the multistate MTMA framework used to standardize money transmission requirements.
What changed
Virginia moved into the MTMA framework as of July 1, 2026. This affects licensing standards and supervision tied to capital, surety bond, and permissible investment requirements.
Compliance perspective
Money transmitters operating in Virginia should compare state licensing documents, financial requirements, and ongoing reporting obligations against the MTMA-based standards. Multistate operators should also check whether Virginia-specific forms or interpretations remain in place.
Key date
Effective date: July 1, 2026.
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