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IntroducedFeb 22, 2024
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Passed HouseMay 03, 2024
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Passed SenateMay 08, 2024
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Signed into LawMay 22, 2024
AN ACT CONCERNING VIRTUAL CURRENCY AND MONEY TRANSMISSION. To: (1) Redefine "permissible investment" and define "receipt" in the money transmission statutes; (2) deem certain persons to be engaged in the business of money transmission and require such persons to be licensed; (3) require money transmission licensees to maintain a plan and accounting regarding winding down operations and to meet certain conditions in order to terminate such licensees' businesses; (4) establish a maximum fee that owners or operators of virtual currency kiosks may charge for a specific service and eliminate a certain requirement for customers to cancel and receive a refund for certain virtual currency transactions; (5) require money transmission licensees, or such licensees' authorized delegates, to provide receipts to senders; and (6) specify that the Banking Commissioner may adopt, amend and rescind regulations, forms and orders governing the business use of nonfungible tokens.
Last Action See all actions
Senate • Jun 06, 2024: Signed by the Governor
Latest Bill Text See all bill texts
Official Summary/Bill Text
Comments on HB 5211
Tweets
Whip Lists
Sponsors
- Banking Committeeprimary
- Rep. Patricia A. Dilloncosponsor
- Rep. Kara Rochellecosponsor
- Rep. Bill Buckbeecosponsor
- Rep. Greg S. Howardcosponsor
- Rep. Farley Santoscosponsor
- Rep. Carol Hallcosponsor
- Rep. Hubert D. Delanycosponsor
- Rep. Andre F. Bakercosponsor
- Rep. Tom Delnickicosponsor
- Sen. Patricia Billie Millercosponsor
- Rep. Martin Foncellocosponsor
- Sen. Eric C. Berthelcosponsor
Votes
YES: 12
- Doucette J
- Miller P
- Delnicki T
- Berthel E
- Santos F
- Cohen C
- Aniskovich C
- Baker A
- Foster J
- Hochadel J
- Hoxha J
- Paolillo A
NO: 0
OTHER: 0
YES: 149
- ALLIE-BRENNAN
- HUGHES
- WILSON
- NUCCIO
- ARNONE
- JOHNSON, D.
- WOOD
- O'DEA
- ARZENO
- JOHNSON, S.
- PAVALOCK-D'AMATO
- BAKER
- KAVROS DEGRAW
- PERILLO
- BARRY
- KEITT
- ACKERT
- PISCOPO
- BELTON
- KHAN
- ANDERSON
- PIZZUTO
- BERGER-GIRVALO
- KHANNA
- ANISKOVICH
- POLLETTA
- BLUMENTHAL
- LEEPER
- BOLINSKY
- REDDINGTON-HUGHES
- BOYD
- LEMAR
- BRONKO
- RUTIGLIANO
- BROWN, K.
- LINEHAN
- BUCKBEE
- SCOTT
- BROWN, M.
- LUXENBERG
- CALLAHAN
- VAIL
- BUMGARDNER
- MCCARTHY VAHEY
- CANDELORA, V.
- VEACH
- CHAFEE
- MCGEE
- CARNEY
- WEIR
- COMEY
- MESKERS
- CARPINO
- YACCARINO
- CONCEPCION
- MICHEL
- CASE
- ZAWISTOWSKI
- CONLEY
- MORRIN BELLO
- CHALESKI
- ZULLO
- CURREY
- NAPOLI
- CHEESEMAN
- ZUPKUS
- D'AGOSTINO
- NOLAN
- COOLEY
- DATHAN
- OSBORNE
- DANCHO
- PALM
- DAUPHINAIS
- DEMICCO
- PARIS
- DECAPRIO
- RITTER
- DENNING
- PARKER
- DELNICKI
- DIGIOVANCARLO
- PORTER
- DUBITSKY
- DILLON
- POULOS
- FERRARO
- COOK
- DOUCETTE
- QUINN
- FISHBEIN
- GODFREY
- EXUM
- RADER
- FONCELLO
- FARRAR
- ROBERTS
- HAINES
- RYAN
- FAZZINO
- ROCHELLE
- HALL, C.
- SANTIAGO
- FELIPE
- ROJAS
- HARRISON
- FIGUEROA
- SANCHEZ, E.
- HAYES
- BUTLER
- FORTIER
- SANCHEZ, J.
- HOWARD
- CANDELARIA, J.
- FOSTER
- SANTOS
- HOXHA
- ELLIOTT
- GARIBAY
- SIMMS
- KENNEDY
- GEE
- SMITH
- KLARIDES-DITRIA
- GONZALEZ
- GENGA
- STAFSTROM
- LABRIOLA
- HALL, J.
- GILCHREST
- STEINBERG
- LANOUE
- MUSHINSKY
- GRESKO
- TERCYAK
- MARRA
- PAOLILLO
- HADDAD
- TURCO
- MASTROFRANCESCO
- REYES
- HEFFERNAN
- WALKER
- MCCARTY, K.
- ROSARIO
- HORN
- WELANDER
- MCGORTY, B.
- SANCHEZ, R.
NO: 0
YES: 35
- JOHN W. FONFARA
- CATHERINE A. OSTEN
- DOUGLAS MCCRORY
- MARTHA MARX
- SAUD ANWAR
- KEVIN C. KELLY
- MD RAHMAN
- MARILYN MOORE
- DEREK SLAP
- HERRON GASTON
- RICK LOPES
- JULIE KUSHNER
- JOHN A. KISSEL
- BOB DUFF
- LISA SEMINARA
- CECI MAHER
- MATTHEW L. LESSER
- PATRICIA BILLIE MILLER
- GARY WINFIELD
- TONY HWANG
- MARTIN M. LOONEY
- MAE FLEXER
- CHRISTINE COHEN
- STEPHEN HARDING
- JAN HOCHADEL
- HENRI MARTIN
- JAMES MARONEY
- ERIC C. BERTHEL
- JOAN V. HARTLEY
- NORMAN NEEDLEMAN
- PAUL CICARELLA
- JORGE CABRERA
- JEFF GORDON
- HEATHER S. SOMERS
- RYAN FAZIO
NO: 1
OTHER: 0
Actions
- Jun 06, 2024 | Senate
- Signed by the Governor
- May 31, 2024 | Senate
- Transmitted to the Secretary of State
- Transmitted by Secretary of the State to Governor
- May 22, 2024 | Senate
- Public Act 24-146 (LCO)
- May 08, 2024 | Senate
- Senate Adopted House Amendment Schedule A
- Senate Passed as Amended by House Amendment Schedule A
- In Concurrence
- May 03, 2024 | Senate
- Immediate Transmittal to the Senate
- Favorable Report, Tabled for the Calendar, Senate
- Senate Calendar Number 452
- May 03, 2024 | House
- House Adopted House Amendment Schedule A 5038
- House Passed as Amended by House Amendment Schedule A
- Apr 02, 2024 | House
- Reported Out of Legislative Commissioners' Office (LCO)
- Favorable Report, Tabled for the Calendar, House
- House Calendar Number 153
- File Number 178 (LCO)
- Mar 25, 2024 | House
- Referred to Office of Legislative Research and Office of Fiscal Analysis 04/02/24 12:00 PM (LCO)
- Mar 14, 2024 | House
- Filed with Legislative Commissioners' Office (LCO)
- Mar 12, 2024 | House
- Joint Favorable (BA)
- Mar 01, 2024 | House
- Public Hearing 03/05
- Feb 22, 2024 | House
- Referred to Joint Committee on Banking
Documents
- Bill Analysis for HB-5211, as amended by House "A"
- Bill Analysis For File Copy 178
- Summary for Public Act No. 24-146
- Fiscal Note For File Copy 178
- Fiscal Note for HB-5211, As Amended by House "A" (LCO 5038)
- Fiscal Note for Amendment LCO 4919 (No Fiscal Impact)
- Fiscal Note for Amendment LCO 5038 (No Fiscal Impact)
- Committee Report BA Joint Fav. Rpt
- Public Hearing Testimony
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