53B.71 VIRTUAL CURRENCY BUSINESS ACTIVITY; CONDITIONS PRECEDENT. (a) A person may not engage in virtual-currency business activity, or hold itself out as being able to engage in virtual-currency business activity, with or on behalf of another person unless the person is: (1) licensed in Minnesota by the commissioner under section 53B.40; or (2) exempt from licensing under section 53B.29. (b) A person that is licensed to engage in virtual-currency business activity is engaged in the business of money transmission and is subject to the requirements of this chapter. History: 2023 c 57 art 3 s 58
Minnesota Legal Code