SB 189 KY

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Became Law

Establish Subtitle 13 of KRS Chapter 286 and create new sections thereof to regulate virtual currency kiosks; establish definitions; provide for enforcement by the commissioner of the Department of Financial Institutions; establish license requirements for virtual currency kiosks; require regulatory filings to be submitted to a nationwide licensing system registry; establish initial and renewal application processes and requirements, reporting, surety bond and tangible net worth, and change of control requirements for virtual currency kiosk operators; require the commissioner to promulgate administrative regulations to establish format, document submission, fee, and trade practice requirements for virtual currency kiosk operators; establish record retention requirements for persons required to be licensed as virtual currency kiosk operators; establish trade practice requirements relating to protection of resident assets, virtual currency kiosk transactions, prohibited practices, and fraud and information security compliance procedures; authorize the commissioner to conduct investigations and examinations; provide for the confidentiality of certain documents provided to the commissioner; authorize the commissioner to share, disclose, and report information and take other actions to assist in the commissioner's duties; require the commissioner to submit an annual licensing report to the Legislative Research Commission; establish due process requirements for adverse actions taken by the commissioner against licensees and other persons; establish requirements for the denial, suspension, or revocation of a license; authorize the commissioner to enter cease and desist orders and emergency orders; authorize the commissioner to order civil penalties against persons that violate the subtitle; require the commissioner of the Department of Financial Institutions to promulgate any required emergency and ordinary administrative regulations on or before January 1, 2027; EFFECTIVE, in part, March 31, 2027.

• S. Rawlings Republican · primary
• R. Mills Republican · primary

1. Feb 12, 2026 introduced in Senate · upper
2. Feb 12, 2026 to Committee on Committees (S) · upper
3. Feb 20, 2026 to Banking & Insurance (S) · upper
4. Feb 24, 2026 reported favorably, 1st reading, to Calendar with Committee Substitute (1) · upper
5. Feb 25, 2026 floor amendment (1) filed to Committee Substitute · upper
6. Feb 25, 2026 2nd reading, to Rules · upper
7. Feb 26, 2026 floor amendment (2) filed to Committee Substitute · upper
8. Feb 26, 2026 posted for passage in the Regular Orders of the Day for Friday, February 27 2026 · upper
9. Feb 27, 2026 passed over and retained in the Orders of the Day · upper
10. Mar 2, 2026 3rd reading · upper
11. Mar 2, 2026 floor amendment (1) withdrawn · upper
12. Mar 2, 2026 passed 37-0 with Committee Substitute (1) and Floor Amendment (2) · upper
13. Mar 3, 2026 received in House · lower
14. Mar 3, 2026 to Committee on Committees (H) · lower
15. Mar 24, 2026 to Banking & Insurance (H) · lower
16. Mar 25, 2026 reported favorably, 1st reading, to Calendar with Committee Substitute (1) and Committee Amendment (1-title) · upper
17. Mar 25, 2026 floor amendment (1) filed to Committee Substitute · upper
18. Mar 26, 2026 2nd reading, to Rules · upper
19. Mar 26, 2026 floor amendment (2) filed to Committee Substitute · upper
20. Mar 27, 2026 posted for passage in the Regular Orders of the Day for Tuesday, March 31 2026 · upper
21. Mar 31, 2026 floor amendment (3) filed to Committee Substitute · upper
22. Apr 1, 2026 Committee Substitute (1) adopted · upper
23. Apr 1, 2026 floor amendment (2) adopted · upper
24. Apr 1, 2026 3rd reading, passed 81-7 with Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title) · upper
25. Apr 1, 2026 received in Senate · upper
26. Apr 1, 2026 to Rules (S) · upper
27. Apr 1, 2026 posted for passage for concurrence in House Floor Amendment (2), Committee Substitute (1) and Committee Amendment (1-title) · upper
28. Apr 1, 2026 Senate concurred in Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title) · upper
29. Apr 1, 2026 passed 38-0 · upper
30. Apr 1, 2026 enrolled, signed by President of the Senate · upper
31. Apr 1, 2026 enrolled, signed by Speaker of the House · lower
32. Apr 1, 2026 delivered to Governor · upper
33. Apr 13, 2026 signed by Governor (Acts Ch. 126) · upper