Title 6.2. Financial Institutions and Services
Chapter 22.2. Virtual Currency Kiosks
§ 6.2-2239. (Effective July 1, 2027) Definitions.
As used in this chapter, unless the context requires a different meaning:
"Blockchain analytics" means the analysis of data from blockchains or public distributed ledgers, including associated transaction information.
"Blockchain analytics and tracing software" means a software service that uses blockchain analytics data to provide risk-specific information and tracing of virtual currency wallet addresses.
"Charge" means a fee or expense paid by a user, including any difference between the market price of virtual currency and the price of such virtual currency charged to the user. "Charge" includes standard transaction fees, fees for wallet creation, exchange fees, and transfer fees.
"Licensee" means a virtual currency kiosk operator licensed pursuant to the provisions of this chapter.
"Location" means the physical location of a virtual currency kiosk within the Commonwealth.
"New user" means a person who completes a transaction through a virtual currency kiosk located in the Commonwealth and includes such person for a period of 14 days after such transaction. A person who transacts on three or more days within such period is considered a user and is no longer subject to the transaction limits applicable to new users after such period has elapsed.
"Principal" means any person that, directly or indirectly, owns or controls a 10 percent or greater interest in any form of entity.
"User" means any person who initiates, authorizes, or completes a transaction involving virtual currency through a virtual currency kiosk for the purpose of purchasing, selling, transferring, or otherwise exchanging virtual currency.
"Virtual currency" has the same meaning as provided in § 6.2-818.1.
"Virtual currency address" means an alphanumeric identifier associated with a virtual currency wallet identifying the location to which a virtual currency transaction can be sent.
"Virtual currency kiosk" means an electronic terminal operated by a virtual currency kiosk operator to facilitate the exchange of virtual currency for money, bank credit, or other virtual currency, including by connecting directly to a separate virtual currency exchange that performs the transmission of virtual currency or by drawing upon the virtual currency in the possession of the virtual currency kiosk operator.
"Virtual currency kiosk operator" or "operator" means a person that owns, operates, or manages a virtual currency kiosk located in the Commonwealth, regardless of whether such person provides custodial or non-custodial services.
"Virtual currency wallet" means a software application or other mechanism that provides a means to hold the keys necessary to access or transfer virtual currency.
