HB1087

What it does

• Adds records about virtual currency businesses, qualified payment stablecoin issuers, and money transmitters acting as custodians of gold and silver coins to the list of confidential information during investigations by the Office of Financial Regulation.
• Includes customer complaints regarding these specific business types in the category of exempt public records while an investigation is active or if disclosure would harm other cases.
• Requires a judge or administrative law judge to review documents claimed as trade secrets before deciding whether they must be released in legal proceedings.
• Sets an expiration date for this exemption rule on October 2, 2031, unless lawmakers choose to keep it through reenactment.
• Updates existing laws regarding payment instruments and deferred presentment transactions to include money transmitters acting as custodians of gold and silver coins.