HB 380: AN ACT relating to the regulation of digital asset business.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Amend various sections and create new sections of Subtitle 11 of KRS Chapter 286 to expand the scope of the subtitle to include virtual currency kiosk business; define terms; require licensure for virtual currency kiosk business in this state; require each virtual currency kiosk business location to be approved by the commissioner of the Department of Financial Institutions; require each application for a license to engage in virtual currency kiosk business to be accompanied by a surety bond or other similar security; establish requirements for approval to engage in virtual currency kiosk business at a location in this state; apply examination, investigation, recordkeeping, registered agent, and trade practice requirements to virtual currency kiosk operators; establish reporting, transaction, trade practice, notice, disclosure, fraud detection, and refund requirements for virtual currency kiosk operators; apply license and civil penalties to virtual currency kiosk operators; authorize the commissioner to order any virtual currency kiosk operator to provide refunds and to direct any peace officer to seize, impound, or render inoperable a virtual currency kiosk; establish the purpose of the Act; amend KRS 286.2-015 to authorize political subdivisions of this Commonwealth to enact and enforce ordinances, regulations, and resolutions pertaining to virtual currency kiosk business; create a new section of KRS Chapter 367 to provide that a violation of Subtitle 11 of KRS Chapter 286 by a virtual currency kiosk operator shall be deemed a violation of, and subject to the remedies and penalties of, KRS 367.170; repeal KRS 286.11-065, relating to licenses issued under former KRS Chapter 366; require the commissioner to promulgate emergency and ordinary administrative regulations to implement the Act within 30 days after the effective date of the Act; provide that persons shall not be required to comply with licensing and other provisions of the Act until certain contingencies are satisfied.

Sponsors

Sponsors by party (alphabetical): Republican 2

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. March 16, 2026to Committee on Committees (S)
2. March 16, 2026received in Senate
3. March 13, 20263rd reading, passed 85-0 with Committee Substitute (1), Floor Amendments (2) and (3) and Floor Amendment (4-title)
4. March 12, 2026floor amendment (3) filed to Committee Substitute , floor amendment (4-title) filed to bill
5. March 10, 2026floor amendment (2) filed to Committee Substitute
6. March 9, 2026posted for passage in the Regular Orders of the Day for Tuesday, March 10 2026
7. March 5, 20262nd reading, to Rules
8. March 4, 2026floor amendment (1) filed to Committee Substitute
9. March 4, 2026reported favorably, 1st reading, to Calendar with Committee Substitute (1)
10. January 22, 2026to Banking & Insurance (H)
11. January 14, 2026to Committee on Committees (H)
12. January 14, 2026introduced in House