§896.101 ( fluorine ) ( the Florida Money Laundering Act ). §560.103 ( 23 ) “ receives currency, monetary prize, or payment instruments for the determination of transmitting the lapp by any means ” a Florida appellate court found that this includes deal in digital currentness.
ĭealing in digital currency is money infection requiring a license under D.C. ” Virtual currency exchanges Coinbase and Binance maintain Delaware money vector licenses. § 2303 requires a license for the undefined phrase “ engage in the business of receiving money for transmission or transmitting the same. See Connecticut Department of Banking, “ Virtual Currency Money Transmission FAQs “ĥ Del. Ĭonnecticut ’ s Department of Banking has issued advisory opinions stating that digital currency exchanges are money transmitters, but digital currency “ ATMs ” are not. money transmitters must hold reserves in the same type and total of virtual currency as all outstanding transactions. § 36a-600 ( hundred ), ( vitamin d ) Conn. Connecticut may apply extra examination or requirements on virtual currency money transmitters. The licensee must state that it is dealing in virtual currency. Ī money transmitter license is required when transmitting digital currency, seeĬonn. Ĭolorado ’ south 2018 interim guidance requires licensing as a money sender when using digital currentness as a requital organization. Digital currency ATMs are often exempted, and a opinion letter exempted a peer-to-peer digital currency transaction chopine from money infection license.
The DFPI regularly provides no-action letters regarding digital currency businesses on its web site. The Department of Financial Protection and Innovation has not decided whether to regulate digital currency transmission under California ’ s Money Transmission Act, see DFPI Statement ra : Coinbase ( Jan. ( J) ( video game inner currency ) In ra River Financial, Inc. However, Arkansas has provided “ no-action ” letters to digital asset-issuing businesses freeing them from money transmission license requirements, for example, In re Mythical, Inc. § 23-55-102 ( 12 ) ( A ), and allows investing in virtual currency by money transmitters A.C.A. Īrkansas ’ s definition of money transmission expressly includes virtual currentness A.C.A. While the definition does not specifically apply to digital currentness, exchanges Coinbase and Binance interpret it to require them to acquire Arizona money transmitter licenses. The definition of a money transmitter is found at Ariz. ” The Alaska Division of Banking and Securities states, “ ompanies dealing with decree and virtual currencies ( cryptocurrencies ) must apply for a money vector license, then figure into a limited Licensing Agreement ( LLA ) with the State of Alaska. § 06.55.990 ( 15 ) defines money services as, “ selling or issuing requital instruments or stored value, or receiving money or monetary value for transmission. Reading: Cryptocurrency Laws and Regulations by State | Bloomberg LawĪlaska Stat.