Fabio
93 lines
5.1 KiB
Markdown
93 lines
5.1 KiB
Markdown
---
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type: "Bill"
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title: "Banks; virtual currency custody services."
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description: "Banks; virtual currency custody services. Permits banks in the Commonwealth to provide virtual currency custody services so long as the bank has adequate protocols in place to effectively manage the associated risks. The bill defines \"virtual currency\" and provides that a bank may choose to offer such custody services in a nonfiduciary capacity or a fiduciary capacity. If it chooses to provide such custody services in a fiduciary capacity, it must possess trust powers and have a trust department approved by the State Corporation Commission."
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jurisdiction: "us/states/va"
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legislature: "Virginia General Assembly"
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session: "2022"
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identifier: "HB 263"
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citation: "Virginia HB 263 (2022)"
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classification: ["bill"]
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subjects: []
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status: "enacted"
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primary_sponsors: ["Christopher T. Head"]
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version_count: 4
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action_count: 27
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vote_count: 6
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first_action: "2022-01-11"
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last_action: "2022-04-11"
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source: "openstates"
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source_identifier: "ocd-bill/ec656048-9bb8-4772-b5ff-8a995b570c3a"
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source_url: "https://lis.virginia.gov/cgi-bin/legp604.exe?221+sum+HB263"
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source_hash: "c85e972663ee1805ad14e951edaebbf11c7028166e3a635fb84e207470bb835d"
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vintage: "2026-07-01"
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source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
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retrieved_at: "2026-07-06"
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confidence: "reported"
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tags: ["legislation", "bill", "us-va"]
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---
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# Virginia HB 263 (2022) — Banks; virtual currency custody services.
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Banks; virtual currency custody services. Permits banks in the Commonwealth to provide virtual currency custody services so long as the bank has adequate protocols in place to effectively manage the associated risks. The bill defines "virtual currency" and provides that a bank may choose to offer such custody services in a nonfiduciary capacity or a fiduciary capacity. If it chooses to provide such custody services in a fiduciary capacity, it must possess trust powers and have a trust department approved by the State Corporation Commission.
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## Version chain
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The bill's text revisions, in order — the diff chain from filing to enrollment.
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1. **CHAP0623** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+CHAP0623)
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2. **HB263ER** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB263ER)
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3. **Prefiled and ordered printed; offered 01/12/22 22100187D** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB263)
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4. **Printed as engrossed 22100187D-E** (committee substitute) — [source](https://lis.virginia.gov/cgi-bin/legp604.exe?221+ful+HB263E)
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## Votes
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- VOTE: Block Vote Passage (98-Y 0-N) — **97–0** (pass) · lower
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- Constitutional reading dispensed (40-Y 0-N) — **40–0** (pass) · upper
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- Reported from Commerce and Energy with amendment(s) (22-Y 0-N) — **22–0** (pass) · lower
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- Subcommittee recommends reporting with amendments (7-Y 0-N) — **7–0** (pass) · lower
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- Passed Senate (39-Y 0-N) — **39–0** (pass) · upper
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- Reported from Commerce and Labor (15-Y 0-N) — **15–0** (pass) · upper
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## Sponsors
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- Christopher T. Head — primary (person)
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- Mark L. Keam — cosponsor (person)
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## Timeline
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The legislative action history — every referral, reading, and vote.
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- **2022-01-11** Prefiled and ordered printed; offered 01/12/22 22100187D `introduction`
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- **2022-01-11** Referred to Committee on Commerce and Energy `referral-committee`
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- **2022-01-18** Assigned sub: Subcommittee #1 `referral-committee`
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- **2022-01-19** Impact statement from SCC (HB263)
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- **2022-01-25** House subcommittee amendments and substitutes offered
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- **2022-01-25** Subcommittee recommends reporting with amendments (7-Y 0-N)
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- **2022-01-27** Reported from Commerce and Energy with amendment(s) (22-Y 0-N) `committee-passage`
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- **2022-01-31** Read first time `reading-1`
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- **2022-02-01** Read second time `reading-2`
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- **2022-02-01** Committee amendment agreed to
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- **2022-02-01** Engrossed by House as amended HB263E
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- **2022-02-01** Printed as engrossed 22100187D-E
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- **2022-02-02** Read third time and passed House BLOCK VOTE (98-Y 0-N) `passage, reading-3`
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- **2022-02-02** VOTE: Block Vote Passage (98-Y 0-N)
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- **2022-02-03** Constitutional reading dispensed
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- **2022-02-03** Referred to Committee on Commerce and Labor `referral-committee`
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- **2022-02-28** Reported from Commerce and Labor (15-Y 0-N) `committee-passage`
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- **2022-03-02** Constitutional reading dispensed (40-Y 0-N)
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- **2022-03-03** Read third time `reading-3`
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- **2022-03-03** Passed Senate (39-Y 0-N) `passage`
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- **2022-03-08** Enrolled
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- **2022-03-08** Signed by Speaker
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- **2022-03-08** Signed by President
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- **2022-03-10** Impact statement from SCC (HB263ER)
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- **2022-03-22** Enrolled Bill communicated to Governor on March 22, 2022
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- **2022-03-22** Governor's Action Deadline 11:59 p.m., April 11, 2022
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- **2022-04-11** Approved by Governor-Chapter 623 (effective 7/1/22) `executive-signature`
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## Source
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OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/ec656048-9bb8-4772-b5ff-8a995b570c3a`. Confidence: reported (aggregated from official Virginia legislature records).
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