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SB189Introduced in the Senate

AN ACT relating to the regulation of digital asset business.

Passed

Introduced by Steve Rawlings, District 11

What does this bill do?

Plain-English breakdown

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Official description

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.

Where it stands

signed by Governor (Acts Ch. 126)

April 13, 2026

How did lawmakers vote?

House votes

2 recorded votes · each counted separately

Senate votes

2 recorded votes · each counted separately

SenateStage: Senate: Third Reading RSN# 4122 · April 1, 2026

38

Yes

0

No

0

Absent or Not Voting

38 senators recorded in this Senate vote. Colors show vote categories only, not whether a vote was good or bad.

See how each senator voted

SenatorDistrictVote
Jason Howell1Yes
Danny Carroll2Yes
Craig Richardson3Yes
Robert Mills4Yes
Stephen Meredith5Yes
Lindsey Tichenor6Yes
Aaron Reed7Yes
Gary Boswell8Yes
David Givens9Yes
Matthew Deneen10Yes

Bill history

  1. introduced in Senate

  2. to Committee on Committees (S)

  3. to Banking & Insurance (S)

  4. reported favorably, 1st reading, to Calendar with Committee Substitute (1)

  5. floor amendment (1) filed to Committee Substitute

  6. 2nd reading, to Rules

  7. floor amendment (2) filed to Committee Substitute

  8. posted for passage in the Regular Orders of the Day for Friday, February 27 2026

  9. passed over and retained in the Orders of the Day

  10. 3rd reading

  11. floor amendment (1) withdrawn

  12. passed 37-0 with Committee Substitute (1) and Floor Amendment (2)

  13. received in House

  14. to Committee on Committees (H)

  15. to Banking & Insurance (H)

  16. reported favorably, 1st reading, to Calendar with Committee Substitute (1) and Committee Amendment (1-title)

  17. floor amendment (1) filed to Committee Substitute

  18. 2nd reading, to Rules

  19. floor amendment (2) filed to Committee Substitute

  20. posted for passage in the Regular Orders of the Day for Tuesday, March 31 2026

  21. floor amendment (3) filed to Committee Substitute

  22. Committee Substitute (1) adopted

  23. floor amendment (2) adopted

  24. 3rd reading, passed 81-7 with Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)

  25. received in Senate

  26. to Rules (S)

  27. posted for passage for concurrence in House Floor Amendment (2), Committee Substitute (1) and Committee Amendment (1-title)

  28. Senate concurred in Committee Substitute (1), Floor Amendment (2) and Committee Amendment (1-title)

  29. passed 38-0

  30. enrolled, signed by President of the Senate

  31. enrolled, signed by Speaker of the House

  32. delivered to Governor

  33. signed by Governor (Acts Ch. 126)

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