Virginia's new Chapter 19.1, Money Transmitters, became effective July 1, 2026 and was in force during the July 6 to July 20 period. The state repealed the old Chapter 19 and replaced it with a new licensing framework that expressly supports multistate and networked supervision.
What changed
Virginia replaced its prior money transmitter statute with a new chapter requiring a license to engage in money transmission under updated statutory language.
Compliance perspective
Money transmitters operating in Virginia should compare license scope, reporting, and supervisory expectations under the new chapter against prior-state assumptions. Firms relying on older chapter references in policies, vendor documents, or applications should update them.
Key date
Effective date: July 1, 2026.
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