Terms Used In Louisiana Revised Statutes 6:1384

  • Office: means the office of financial institutions. See Louisiana Revised Statutes 6:1382
  • Person: means an individual, general partnership, limited partnership, limited liability company, corporation, trust, association, joint stock corporation, or other legal entity, or any individual or group of individuals, however organized. See Louisiana Revised Statutes 6:1382
  • Resident: means any of the following:

                (i) A person who is domiciled in this state. See Louisiana Revised Statutes 6:1382

  • State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Louisiana Revised Statutes 6:1382
  • Virtual currency: means a digital representation of value that is used as a medium of exchange, unit of account, or store of value, and that is not legal tender, whether or not denominated in legal tender. See Louisiana Revised Statutes 6:1382
  • Virtual currency business activity: means any of the following:

                (a) Exchanging, transferring, or storing virtual currency or engaging in virtual currency administration, whether directly or through an agreement with a virtual currency control services vendor. See Louisiana Revised Statutes 6:1382

            A person shall not engage in virtual currency business activity, or hold himself out as being able to engage in virtual currency business activity, with or on behalf of a resident unless the person is one of the following:

            (1) Licensed in this state by the office pursuant to La. Rev. Stat. 6:1385.

            (2) Exempt from licensure pursuant to La. Rev. Stat. 6:1383.

            Acts 2020, No. 341, §1; Acts 2023, No. 331, §1, eff. June 13, 2023.

            NOTE: The provisions of Acts 2023, No. 331, will terminate on July 1, 2025.

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