United States of America: Adopted Louisiana Virtual Currency Licencing Rules

On 20 October 2022, the Virtual Currency Licencing Rules of Louisiana State were adopted on publication in the State Register. 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. Applications for licences will open on 1 January 2023.