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Committee approves bill adding virtual currency to money-transmission law, members raise definition concerns
Summary
Senate Bill 202 would add virtual currency to the money-transmission business law and set parameters for self‑hosted wallets; committee members praised amendments protecting self-hosted wallets but one member said the statutory definition of "virtual currency" is too broad and recorded a no vote in committee.
Senate Bill 202, which would add virtual currency to the state's money-transmission business law and set parameters for self-hosted wallets, was reported out of the Commerce Committee after discussion of definitional and scope issues.
Supporters said the Senate amendment incorporated changes…
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