KLS Keeping Law Simple Legislation in plain English

Straight-ahead summaries built from the official bill text. We keep the source links front and center and leave the decision up to you.

Back to Michigan

HB5470 • 2026

Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to. Amends sec. 3 of 2006 PA 250 (MCL 487.1003). TIE BAR WITH: HB 5469'26

Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to. Amends sec. 3 of 2006 PA 250 (MCL 487.1003). TIE BAR WITH: HB 5469'26

Active

The official status still shows this bill as active or still awaiting another formal step.

Sponsor
Mike McFall (District 14), Joseph Aragona (District 60)
Last action
2026-01-27
Official status
bill electronically reproduced 01/22/2026
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to. Amends sec. 3 of 2006 PA 250 (MCL 487.1003). TIE BAR WITH: HB 5469'26

Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to.

What This Bill Does

  • Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to.
  • Amends sec.
  • 3 of 2006 PA 250 (MCL 487.1003).
  • TIE BAR WITH: HB 5469'26

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Bill History

  1. 2026-01-27 HJ 5 Pg. 0

    bill electronically reproduced 01/22/2026

  2. 2026-01-22 HJ 4 Pg. 0

    introduced by Representative Rep. Mike McFall

  3. 2026-01-22 HJ 4 Pg. 0

    read a first time

  4. 2026-01-22 HJ 4 Pg. 0

    referred to Committee on Regulatory Reform

Official Summary Text

Financial institutions: money transmitters; money transmitter license; subject virtual currency kiosk to. Amends sec. 3 of 2006 PA 250 (MCL 487.1003). TIE BAR WITH: HB 5469'26