An Act amending the act of September 2, 1965 (P.L.490, No.249), referred to as the Money Transmission Business Licensing Law, further providing for title of act and for definitions; providing for short title; and further providing for license required, for exemptions, for qualifications for a license, for fee, financial statement and security, for liability of licensees, for licensee requirements and for agents.

SB 202 updates Pennsylvania's 1965 Money Transmission Business Licensing Law to include virtual currency transmission under the same regulatory framework as traditional money transmission. It requires businesses transmitting virtual currency (via money orders, checks, or digital methods) to obtain a license, meet a $500,000 tangible net worth requirement, and post a $1 million security bond. The law exempts personal virtual currency transfers using self-hosted wallets (where users control their digital records) and transactions between businesses for commercial purposes. This bill, signed into law on June 27, 2025, directly affects money transmission businesses and virtual currency service providers operating in Pennsylvania.