SB 560 West Virginia Senate · 2026 Regular Session

Relating to financing and state payments

SB 560, the Financial Accountability Stable Token Act (FAST Act), allows West Virginia to use stable digital tokens fully backed by U.S. dollars for payments to state vendors and contractors. The State Treasurer will maintain a list of approved tokens meeting strict criteria (e.g., 1:1 U.S. dollar backing, quarterly audits, and U.S. regulatory compliance) and may authorize them without further legislative action. Vendors and contractors can choose to accept these tokens voluntarily but cannot be required to do so, and such payments will satisfy the state’s financial obligations. The Treasurer must also submit annual reports to the Legislature detailing token usage, cost savings, and risk assessments.

Issues: ✓ Technology

Bill status passed 3 of 5 stages cleared

Introduction

Jan 2026

Committee Review

Feb 2026

Senate Passage

Feb 2026

House of Delegates Passage

Governor

Introduced Jan 21, 2026 Last action Feb 26, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Introduced Version → Committee Substitute · 5 edits

MODERATE

The bill was revised from a single-sponsor introduction to a committee substitute with multiple sponsors, expanding the scope to include administrative fees for the Treasurer. The text was cleaned of website navigation artifacts, and specific reporting deadlines and recipient committees were clarified to ensure timely digital submission.

Scope change

The bill's scope was expanded to explicitly authorize the State Treasurer to impose administrative and transaction fees to cover program expenses, which was not explicitly detailed in the original version.

FISCAL

Added explicit authority for the Treasurer to charge administrative and transaction fees to cover program costs, requiring these fees to be disclosed before payment acceptance.

REQUIREMENT

Updated the reporting deadline to December 1 and changed the reporting recipient to the Joint Committee on Government and Finance, specifying that reports must be submitted in digital format.

DEFINITION

Refined the eligibility criteria for stable tokens to specify that they must not be controlled by a 'foreign person or foreign entity,' adding clarity to the original 'non-United States persons' language.

SCOPE

Changed the legislative findings to reflect that the federal stablecoin framework was enacted in 2025 rather than 2024.

TECHNICAL

Removed extraneous website navigation links, contact forms, and formatting artifacts that were mixed into the legislative text.

Floor votes · Senate Feb 25, 2026

How they voted

33–0

Passed

Total votes 33

Feb 25, 2026

D Democratic2

2 Yea

100% Yea

R Republican31

31 Yea

100% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Feb 26, 2026

Committee

To House Finance

lower

Feb 26, 2026

Committee

To Finance

lower

Feb 26, 2026

Introduced

Introduced in House

lower

Feb 25, 2026

Upper · Passed

Passed Senate (Roll No. 223)

upper

Feb 21, 2026

Upper · Passed

Reported do pass

upper

Feb 12, 2026

Committee

To Finance

upper

Feb 12, 2026

Committee

Committee substitute reported, but first to Finance

upper

Jan 21, 2026

Committee

To Banking and Insurance

upper

Jan 21, 2026

Introduced

Introduced in Senate

upper

Jan 21, 2026

Committee

To Banking and Insurance then Finance

upper

1 primary · 3 co-sponsors