As the state legislature begins wrapping up its 2015 session, a bill to regulate the online currency Bitcoin has been withdrawn from the Senate calendar for a full vote and referred back to committee.

The act, known as House Bill 289 or the N.C. Money Transmitters Act, would amend state law with a new article that describes and defines the online-only money and stipulates that those involved in its transmission meet certain criteria and be licensed, exempting only government-related entities. Bitcoin licensees, according to the proposal, would be required to maintain a surety bond and keep records, among other stipulations.

Although the bill was passed in the House earlier this session, it appears unlikely that it will emerge from committee and make it onto the Senate floor, as the legislators focus on larger issues that must be resolved before the session can end.