SB 18-277

signed

Virtual Currency Exemption Money Transmitters Act

Plain-English Summary

AI-generated

Senate Bill 18-277, also known as the Virtual Currency Exemption Money Transmitters Act, is a law that allows companies dealing with virtual currency (like cryptocurrencies) in Colorado to operate without needing a special license or following certain regulations that other money transfer services must follow. This means businesses handling virtual currencies won't have to comply with the same rules as traditional financial institutions when it comes to transferring funds. The bill has been signed into law, so these changes are now officially in effect for companies working with virtual currency in Colorado.

Official Summary

The bill exempts the transmission of virtual currency from regulation under the Colorado 'Money Transmitters Act'. (Note: This summary applies to this bill as introduced.) Read More

Details

Chamber: Senate
First action: 2018-05-07
Latest action: 2018-04-27
Last action desc.: Introduced In Senate - Assigned to Finance
OpenStates: View source ↗

Related Legislation

This bill affects (4)

amends

HB 17-1253(2017A)· signed

Protect Seniors From Financial Abuse

amends

HB 18-1220(2018A)· signed

Bitcoin Dealers Licensed As Money Transmitters

amends

SB 17-226(2017A)· signed

Relocate Title 12 Regulation Of Financial Institutions

relates

SB 17-226(2017A)· signed

Relocate Title 12 Regulation Of Financial Institutions

Affected by (5)

amends

HB 18-1426(2018A)· signed

Virtual Currency Exemption Money Transmitters Act

amends

HB 26-1188(2026A)· signed

Sunset Process Securities Regulation

amends

HB 24-1328(2024A)· signed

Sunset Continue Money Transmitter Regulation

relates

SB 25-318(2025A)· signed

Artificial Intelligence Consumer Protections

relates

SB 26-118(2026A)· signed

Legacy Giving to Charitable Organizations

Votes

BILL

2018-05-07 · Senate · fail — Yes: 15 · No: 20 · Other: —