Pennsylvania HB 2643: An Act amending the act of June 13, 1967 (P.L.31, No.21), known as the Human Services Code, in general powers and duties of the Department of Public Welfare, providing for infant and toddler care professionals salary supplement; and promulgating regulations.

Bill Text

PRINTER'S NO. 3622
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 2643
Session of
2026
INTRODUCED BY CIRESI, HANBIDGE, KHAN, WAXMAN, MADDEN, GUZMAN,
SANCHEZ, POWELL, NEILSON, D. WILLIAMS AND MERSKI,
JUNE 16, 2026
REFERRED TO COMMITTEE ON COMMERCE, JUNE 16, 2026
AN ACT
Amending Title 7 (Banks and Banking) of the Pennsylvania
Consolidated Statutes, providing for virtual currency kiosks;
imposing requirements on the Department of Banking and
Securities; establishing the Virtual Currency Kiosk Public
Education Campaign Fund; and imposing penalties.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Title 7 of the Pennsylvania Consolidated Statutes
is amended by adding a chapter to read:
CHAPTER 63
VIRTUAL CURRENCY KIOSKS
Sec.
6301. Definitions.
6302. License required.
6303. Requirements for license.
6304. General requirements.
6305. Public education campaign.
6306. Authority of department.
6307. Suspension, revocation or refusal.
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6308. Penalties.
§ 6301. Definitions.
The following words and phrases when used in this chapter
shall have the meanings given to them in this section unless the
context clearly indicates otherwise:
"Applicant." A person who applies for a license under this
chapter.
"Branch." A location, other than the principal place of
business, where a virtual currency kiosk is located.
"Commission." The Banking and Securities Commission
established under section 1121-A of the act of May 15, 1933
(P.L.565, No.111), known as the Department of Banking and
Securities Code.
"Department." The Department of Banking and Securities of
the Commonwealth.
"Existing customer." A customer transacting at a virtual
currency kiosk who has been a customer of the licensee for more
than 30 days.
"Fund." The Virtual Currency Kiosk Public Education Campaign
Fund established under section 6305(c) (relating to public
education campaign).
"Licensee." A person licensed under this chapter.
"Money." Currency, legal tender or any other product that is
generally recognized as a medium of exchange.
"New customer." A customer transacting at a virtual currency
kiosk who has been a customer of the licensee for 30 days or
less.
"NMLS." The Nationwide Multistate Licensing System and
Registry developed by the Conference of State Bank Supervisors
and the American Association of Residential Mortgage Regulators
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and owned and operated by the State Regulatory Registry, LLC, or
any successor or affiliated entity, for the licensing and
registration of persons in financial services industries.
"Person." An individual, association, joint venture or
joint-stock company, partnership, limited partnership, limited
partnership association, limited liability company, business
corporation, nonprofit corporation or any other group of
individuals, however organized.
"Principal place of business." The primary office of a
person at which the person's books, records, accounts and
documents are maintained unless otherwise agreed to by the
department.
"Tangible net worth." A person's net worth less intangible
assets as determined by generally accepted accounting
principles.
"Virtual currency." As follows:
(1) The term includes a digital representation of value
that:
(i) Is used as a medium of exchange, unit of account
or store of value.
(ii) Is not money, unless the virtual currency was
adopted or authorized by a domestic or international
government as a medium of exchange, whether denominated
in cash.
(2) The term does not include:
(i) A transaction in which a merchant grants, as
part of an affinity or rewards program, value that cannot
be taken from or exchanged with the merchant for money,
bank credit or virtual currency.
(ii) A digital representation of value issued by or
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on behalf of a publisher and used solely within an online
game, game platform or family of games sold by the same
publisher or offered on the same game platform.
"Virtual currency kiosk." An electronic terminal that
enables the exchange of any combination of United States dollars
or virtual currency, including by:
(1) connecting directly to a separate virtual currency
exchange that performs the actual exchange; or
(2) drawing upon the virtual currency in the possession
of the licensee of the electronic terminal.
§ 6302. License required.
(a) Requirement.--Except as provided under subsection (b), a
person may not operate a virtual currency kiosk without a
license from the department.
(b) Exception.--A license under subsection (a) shall not be
required for banks, bank and trust companies, credit unions,
savings banks and trust companies organized under the laws of
this Commonwealth or similar banking institutions, credit
unions, savings and loan associations, building and loan
associat