Legislature(2021 - 2022)

2022-04-22 Senate Journal

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2022-04-22                     Senate Journal                      Page 2390
SB 238                                                                                                                        
The Labor and Commerce Committee considered SENATE BILL                                                                         
NO. 238 "An Act relating to the business of money transmission;                                                                 
relating to money transmission licenses, licensure requirements, and                                                            
registration through the Nationwide Multistate Licensing System;                                                                
relating to the use of virtual currency for money transmission; relating                                                        
to authorized delegates of a licensee; relating to acquisition of control                                                       
of a license; relating to record retention and reporting requirements;                                                          
authorizing the Department of Commerce, Community, and Economic                                                                 
Development to cooperate with other states in the regulation of money                                                           
transmission; relating to permissible investments; relating to violations                                                       
and enforcement of money transmission laws; relating to money                                                                   
transmission license exemptions; relating to payroll processing                                                                 
services; repealing currency exchange licenses; and providing for an                                                            
effective date."                                                                                                                
Signing do pass: Senator Costello, Chair. Signing no recommendation:                                                            
Senators Gray-Jackson, Micciche, Stevens.                                                                                       
The following previously published fiscal information applies:                                                                  
          Fiscal Note No. 1, Department of Commerce, Community, and                                                            
      Economic Development                                                                                                      
The bill was referred to the Finance Committee.