{"data":{"id":"us-ky/krs-286.13-060","jurisdiction":"us-ky","citation":"KRS 286.13-060","heading":"Renewal fee -- Reinstatement of expired license -- Annual renewal","body":"report.  (Effective April 30, 2027)\n(1) As used in this section, \"United States dollar equivalent of virtual currency\" means\nthe equivalent value of virtual currency in United S tates dollars shown on a virtual\ncurrency exchange based in the United States for a particular date or period.\n(2) On or before December 31 of each year, each licensee shall:\n(a) Pay a nonrefundable annual renewal fee to the department that is determined\nby the commissioner in accordance with KRS 286.13-070; and\n(b) File the licensee's annual renewal report with the commissioner in accordance\nwith subsection (5) of this section.\n(3) The failure of a licensee to comply with subsection (2) of this section sha ll result in\nthe expiration of the licensee's license by operation of law on January 1 of the\nfollowing year.\n(4) (a) The commissioner may reinstate an expired license if, before February 1 of\nthe calendar year in which the license expired, the licensee:\n1. Pays the annual renewal fee and files the annual renewal report required\nunder subsection (2) of this section; and\n2. Pays a civil penalty to the department that is equal to the amount of the\nannual renewal fee determined by the commissioner in accordance with\nKRS 286.13-070.\n(b) Any reinstatement of a license under paragraph (a) of this subsection shall be\nretroactive to January 1 of the calendar year in which the license expired.\n(5) Except as provided in subsection (6) of this section, each licensee shall file an\nannual renewal report with the commissioner that contains all of the following:\n(a) A copy of:\n1. The licensee's most recent audited annual financial statement; or\n2. If the licensee is a wholly owned subsidiary of another corporation, the:\na. Most recent audited consolidated annual financial statement of the\nparent corporation; or\nb. Licensee's most recent audi ted consolidated annual financial\nstatements;\n(b) A description of the following, if the information has not been previously\nreported to the commissioner on any other report filed under this subtitle:\n1. Any material changes to any of the information submi tted by the\nlicensee on its original application; and\n2. Any data security breach involving the licensee;\n(c) A list of the licensee's permissible investments under KRS 286.13-085;\n(d) A certification from the licensee that the licensee continues to mainta in\npermissible investments in accordance with KRS 286.13-085;\n(e) A list of each location where the licensee, or an agent of the licensee,\nconducts virtual currency kiosk business in this state;\n(f) For January 1 to December 31 of the preceding calendar year and January 1 to\nSeptember 30 of the current year:\n1. The number of virtual currency kiosk transactions at each location in\nthis state where the licensee, or an agent of the licensee, conducts virtual\ncurrency kiosk business;\n2. The United States dollar amount of virtual currency kiosk transactions at\neach location in this state where the licensee, or an agent of the licensee,\nconducts virtual currency kiosk business; and\n3. The total number and dollar amount of refund requests received by the\nlicensee, or an agent of the licensee, from virtual currency kiosk users\nthat were:\na. Granted by the licensee or agent; and\nb. Denied by the licensee or agent;\n(g) As of December 31 of the preceding calendar year and September 30 of the\ncurrent year:\n1. The amount of United States dollar equivalent of virtual currency in the\npossession or control of the licensee or an agent of the licensee;\n2. The number of virtual currency kiosk users for whom the licensee, or an\nagent of the licensee, had possession or control of virtual currency; and\n3. The amount of United States dollar equivalent of virtual currency in the\npossession or control of the licensee, or an agent of the licensee, on\nbehalf of virtual currency kiosk users;\n(h) Evidence that the licensee continues to sat isfy the requirements of KRS\n286.13-050;\n(i) The name, business address, email address, and telephone number of the\nlicensee's chief compliance officer for virtual currency kiosk business\nconducted in this state; and\n(j) Any other information the commissioner determines is necessary to aid in the\nenforcement of this subtitle.\n(6) A licensee that was not licensed in Kentucky at any time between January 1 and\nOctober 31 of a calendar year shall not be required to file an ann ual renewal report\nfor the following year.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=58287","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:57:16Z","sha256":"9207e81b32c6115b0cb75ec87a39f1391daa825161e78e3fe385c91c68c61eae","source_id":"us-ky","stale":false,"prev":"us-ky/krs-286.13-055","next":"us-ky/krs-286.13-065"},"notice":"GroundRules: Original legal text. Not legal advice."}