VA HB665

Requires virtual currency kiosk operators in Virginia to obtain a license from the State Corporation Commission before conducting transactions, with unlicensed transactions deemed void and unenforceable.

Establishes transaction limits of $2,000 per day for new users, $5,000 daily maximum for all users, and $10,000 monthly maximum, with a mandatory 48-hour hold period on new user transactions.

Caps transaction fees at 18 percent of the transaction value and mandates clear disclosure of all charges, exchange rates, and fraud warnings in the user's chosen language.

Requires operators to use blockchain analytics software to detect fraud and money laundering, verify user identity with government-issued ID, and provide staff training materials on recognizing scams to kiosk locations.

Mandates refunds of transaction fees to fraud victims who report within 90 days and submit documentation within 120 days, and requires live customer service during all operating hours including 8 a.m. to 10 p.m. daily.