Virginia (VA)
Money transmission and virtual currency licensing planning data for Virginia.
Population weight (planning): 2.57% · Back to matrix · Launch map
How to read this page: confirmed cells are checked against a primary regulatory source and dated. Under review marks a cell where primary sources conflict or a figure awaits confirmation.
MTL required
Yes, a fiat on/off ramp is money transmission under Code of Virginia section 6.2-1929, because receiving customer funds for transmission (defined in section 6.2-1922) captures the fiat deposit and withdrawal legs. Virtual currency itself is defined but excluded from money, so licensure for this scenario is anchored on the fiat side of the business.
Verified 2026-07-16. Source
Fiat treatment
The fiat side is squarely money transmission: section 6.2-1922 defines money transmission as selling or issuing payment instruments, selling or issuing stored value, or receiving money for transmission from a person in the Commonwealth. Section 6.2-1929 requires a licence before engaging in that business or advertising it.
Verified 2026-07-16. Source
Virtual currency treatment
Defined but excluded: section 6.2-1922 defines virtual currency as a digital representation of value used as a medium of exchange, then expressly states money does not include virtual currency. There is no separate virtual currency licence regime; a standalone crypto only business sits outside the core money transmission definition, unlike the fiat legs of this scenario.
Verified 2026-07-16. Source
Regulator
Virginia State Corporation Commission, Bureau of Financial Institutions, which licenses and supervises money transmitters under Code of Virginia Chapter 19.1 (section 6.2-1922 et seq.).
Verified 2026-07-16. Source
NMLS / portal
Licence type name found on an NMLS-hosted Virginia checklist filename: Money Order Seller and Money Transmitter License. The Virginia NMLS state resource page redirected to a generic system homepage rather than rendering state-specific text, so this name could not be independently confirmed from live page content.
Verified 2026-07-16. Source · under review
Launch posture
amber: Modern MTMA-style regime with capped, predictable requirements and NMLS-based multistate processing, but implementing regulations are mid-transition and the still-published bond rule has not yet been conformed.
Verified 2026-07-16. Source
Net worth / capital (locked)
Net worth / capital is included with access.Permissible investments (locked)
Permissible investments is included with access.Exam / audit timeline (locked)
Exam / audit timeline is included with access.Practitioner notes (locked)
Practitioner notes is included with access.Under the planning scenario
LicenceMap's bond and net worth figures use one scenario throughout: a virtual currency exchange with a fiat on and off ramp, $50m in annual US transmission volume, $2m in average daily outstanding liability, and a single principal office.
Surety bond: Surety bond is included with access.
Net worth / capital: Net worth / capital is included with access.