Bill > H0137

This bill addresses multiple aspects of financial regulation in Vermont, focusing on insurance, captive insurance companies, virtual currency kiosks, and other financial services. The bill makes several key changes, including expanding confidentiality provisions for insurance investigations, modifying rules for mutual insurance companies and captive insurance companies, and implementing extensive new regulations for virtual currency kiosks. Notably, the bill introduces comprehensive disclosure requirements for virtual currency kiosk operators, including mandatory customer identification, identity verification, live screening for certain customers, blockchain analytics, fraud prevention measures, and refund policies. The legislation also increases the daily transaction limit for virtual currency kiosks from $1,000 to $2,000 for new customers and $5,000 for existing customers, and raises the maximum fee cap from 3% to 15% of the transaction value. Additionally, the bill includes provisions related to Medicare supplement insurance rate reviews, mutual financial institution corporator requirements, and mandates several studies on topics such as suspicious financial transactions and protections for victims of coerced debt. The bill is set to take effect on July 1, 2025, with some provisions specific to Medicare supplement insurance taking effect on January 1, 2026.

Budget and Finance, Business and Industry

https://legislature.vermont.gov/bill/status/2026/H.137