United States of America: Implemented Louisiana Virtual Currency Licencing Rules

On 1 January 2023, the Virtual Currency Licencing Rules of Louisiana State came into effect when applications for virtual currency licences were opened. The Rules were adopted under the Louisiana Virtual Currency Business Act of 2020 which provides that all virtual currency businesses must hold a license in order to operate. The Rules require that all persons or businesses engaged in virtual currency business activities in Louisiana must either submit an application for a license or file a notice of registration before the Office of Financial Institutions (OFI) through the Nationwide Multistate Licensing System.