West Virginia (WV)
Money transmission and virtual currency licensing planning data for West Virginia.
Population weight (planning): 0.51% · 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 convertible virtual currency exchange with a fiat on/off ramp falls within the currency transmission/money transmission definition at W. Va. Code 32A-2-1(j), covering receipt of currency for transmission and payment through a digital wallet, so licensure is required under 32A-2-2.
Verified 2026-07-16. Source
Fiat treatment
West Virginia Code 32A-2-1(j) defines currency transmission or money transmission as selling or issuing cheques, receiving currency for transmission, or paying money or a money substitute by wire, electronic means, or digital wallet. A licence is required under 32A-2-2 unless 32A-2-3 exempts the activity.
Verified 2026-07-16. Source
Virtual currency treatment
West Virginia Code 32A-2-1 defines virtual currency, virtual currency business activity, virtual currency kiosk, and digital wallet directly, and 32A-2-1(j)(3) folds operating a virtual currency kiosk into the money transmission definition itself. Detailed kiosk disclosure, transaction-limit, and compliance-officer rules sit at 32A-2-8c, added by 2026 House Bill 5353.
Verified 2026-07-16. Source
Regulator
The West Virginia Division of Financial Institutions, headed by the Commissioner of Financial Institutions, licenses and supervises money transmitters under Chapter 32A, Article 2.
Verified 2026-07-16. Source
MTMA adoption
partial: Ch. 181 (2022); see also S.B. 345 (2023), effective March 10, 2023 (S.B. 345 letters-of-credit rule); Ch. 181 enacted 2022.
Verified 2026-07-16. Source
Launch posture
amber: Licensure is clearly required and the volume-scaled bond reaches $700,000 for this scenario, but a 120-day statutory decision clock and MTMA-aligned net worth and investment rules.
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.