Rhode Island Bill Expands Currency Transmission Rules to Include Virtual Currency Operators and Digital Products

Original title: AN ACT RELATING TO FINANCIAL INSTITUTIONS -- CURRENCY TRANSMISSIONS (Expands the definition of operator to anyone who enables customers to purchase virtual currency. Expands the definition of a transaction to include a digital product or application where payment is made in person or through a third party intermediary.)

Last action · March 5, 2026: Committee recommended measure be held for further studySponsors: Casimiro and 5 others

Bill progressHistory & official text ↓

Introduced

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What This Bill Proposed

Rhode Island bill H 7955 expands the state's financial institution regulations by redefining currency transmission operators to include anyone enabling customers to purchase , and broadening transactions to cover digital products or applications.

Why it matters

The measure establishes state-level regulatory oversight for platforms facilitating purchases and digital product transactions, impacting how digital asset and software intermediaries operate in Rhode Island.

Who It Would Have Affected

Groups the bill's text would have affected, as described in the record. Being affected is not a position for or against it.

Directly affected

Virtual currency operators

Virtual currency operators are newly brought under the definition of operators subject to currency transmission regulations.

Directly affected

Digital product providers

Providers of digital products or applications involving in-person or third-party intermediary payments are subject to expanded transaction definitions.

Key Facts

You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.

Frequently Asked Questions

What types of transactions are added to the currency transmission regulations?

Transactions now include a digital product or application where payment is made in person or through a third-party intermediary.

What else do you want to know?

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Where This Stands

This bill did not become law - Died at adjournment · in House committee.

Procedural history

3 actions

Mar 5, 2026
Committee recommended measure be held for further study
Feb 27, 2026
Scheduled for hearing and/or consideration (03/05/2026)
Feb 27, 2026Introduced
Introduced, referred to House Innovation, Internet, & Technology

Version history

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