S757
An Act establishing regulations on certain virtual currencies for fraud prevention
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- Passed House
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Bill overview
This bill aims to establish regulations for virtual currencies in Massachusetts to help prevent fraud. It seeks to create a framework for managing risks associated with these digital assets and protect consumers and investors. The legislation intends to address concerns about scams and illicit activities related to virtual currency transactions. It will likely require certain virtual currency businesses to register and comply with specific rules.
Key provisions
- Establish regulations for certain virtual currencies.
- Implement measures to prevent fraud related to virtual currencies.
- Require registration of virtual currency businesses operating in Massachusetts.
- Potentially mandate reporting requirements for virtual currency transactions.
- Address misuse of cryptocurrency ATMs.
Who is affected
- Virtual currency businesses
- Consumers and investors in virtual currencies
- The financial services industry in Massachusetts
Notable changes
- This bill builds upon similar legislation, such as H.1247, S.707, S.804, and S.3048, which also address virtual currency regulation.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Barry R. Finegold
Cosponsor
Barry R. Finegold
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Bill S.757 194th (Current)
An Act establishing regulations on certain virtual currencies for fraud prevention
By Mr. Finegold, a petition (accompanied by bill, Senate, No. 757) of Barry R. Finegold for legislation to establish regulations on certain virtual currencies for fraud prevention. Financial Services.
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Bill Information
Bill Information
Presenter: Barry R. Finegold
Tabs
Bill History Petitioners Committee Summary Primary Sponsor Summary
Bill History
Displaying 6 actions for Bill S.757
| Date | Branch | Action |
| 2/27/2025 | Senate | Referred to the committee on Financial Services |
| 2/27/2025 | House | House concurred |
| 9/25/2025 | Joint | Hearing scheduled for 10/07/2025 from 10:30 AM-01:00 PM in A-2 |
| 10/7/2025 | Joint | Hearing rescheduled to 10/07/2025 from 10:30 AM-01:10 PM in A-2 and Virtual Hearing updated to New End Time |
| 4/1/2026 | Senate | Reporting date extended to Monday April 6, 2026 |
| 4/15/2026 | Senate | Accompanied a new draft, see S3048 |
Similar Bills
H.1247 194th (Current)
An Act relative to preventing fraud and establishing regulations on certain virtual currencies
S.707 194th (Current)
An Act relative to preventing fraud and establishing regulations on certain virtual currencies
S.804 194th (Current)
An Act providing for regulation and reporting requirements for qualifying virtual currency kiosk operators
S.3048 194th (Current)
An Act to stop cryptocurrency ATM misuse ("SCAM" Act)
S.123 194th (Current)
An Act establishing a special commission to study the integrity of public assistance programs
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