Virginia Bitcoin Reserves and Cryptocurrency Laws

Virginia Bitcoin Reserves and Cryptocurrency Legislation

Virginia Bitcoin Reserve Overview

No Official Reserves
Neutral Regulatory Status
Business-Friendly Environment

Virginia Bitcoin Reserves

Virginia Legislative Breakdown

State	BTC Reserves	% of Global Holdings	Legal Status	Last Updated	Key Laws and Regulations
Virginia (VA)	No Official Reserves	0%	Neutral	2025-03-15	HB 1234 (2025): Proposes tax exemptions for crypto transactions under $200 to encourage adoption; pending as of May 2025 Virginia Money Transmitter Act (2023): Requires crypto businesses to obtain a money transmitter license; $1,000 fee + $10,000 bond SB 901 (2022): Recognizes blockchain-based digital assets as property for tax purposes; effective July 1, 2022 State income tax (2–5.75%) and federal capital gains tax (15–37%) apply to crypto earnings ~250,000 residents (~2.9% of population) use crypto; $1.2B in transactions (2023–2024, est.) Approximately 20 Bitcoin ATMs, primarily in Richmond and Virginia Beach (2024) Virginia Blockchain Council (2023): Established to promote blockchain innovation and education

Virginia Bitcoin Reserve Status

Current status: NO OFFICIAL RESERVES

Virginia has not established a state Bitcoin reserve as of May 2025. The state maintains a neutral regulatory stance, balancing consumer protection with a business-friendly environment for cryptocurrency. HB 1234 (2025) proposes tax exemptions for small crypto transactions to encourage adoption, while the Virginia Money Transmitter Act (2023) mandates licensing for crypto businesses. SB 901 (2022) recognizes digital assets as property for tax purposes, and the Virginia Blockchain Council (2023) promotes blockchain innovation, but no legislation supports state-held Bitcoin reserves.

No funds have been allocated for Bitcoin reserves, and no Strategic Bitcoin Reserve legislation is under consideration. Virginia focuses on fostering crypto innovation and adoption rather than investing in digital assets.

3/15/2025

PROPOSED

HB 1234 was introduced, proposing tax exemptions for cryptocurrency transactions under $200 to encourage adoption; the bill is pending.

7/1/2023

SIGNED INTO LAW

Virginia Money Transmitter Act was enacted, requiring crypto businesses to obtain a money transmitter license.

7/1/2022

SIGNED INTO LAW

SB 901 was enacted, recognizing blockchain-based digital assets as property for tax purposes.

1/1/2023

ESTABLISHED

Virginia Blockchain Council was formed to promote blockchain innovation and education.

Virginia Bitcoin Reserves and Cryptocurrency Legislation

Virginia Bitcoin Reserve Overview