Crypto界网 January 20 News: The Georgia Department of Banking and Finance recently announced that Virtual Assets LLC's virtual currency platform Crypto Dispensers has been issued a cease and desist order that has become final and effective. The order states that the platform was operating an online virtual currency trading platform in Georgia and engaging in the transmission of funds or "monetary value" (including virtual currencies) without obtaining a local Money Transmitter license or qualifying for an exemption. According to Georgia law O.C.G.A. § 7-1-681 and § 7-1-681(b), any entity transmitting funds or virtual currencies within the United States or abroad must obtain a license or meet exemption conditions in advance; otherwise, it is illegal.
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Crypto界网 January 20 News: The Georgia Department of Banking and Finance recently announced that Virtual Assets LLC's virtual currency platform Crypto Dispensers has been issued a cease and desist order that has become final and effective. The order states that the platform was operating an online virtual currency trading platform in Georgia and engaging in the transmission of funds or "monetary value" (including virtual currencies) without obtaining a local Money Transmitter license or qualifying for an exemption. According to Georgia law O.C.G.A. § 7-1-681 and § 7-1-681(b), any entity transmitting funds or virtual currencies within the United States or abroad must obtain a license or meet exemption conditions in advance; otherwise, it is illegal.