Non-Depository Virtual Currency Business Activity Rule

LAC 10:I.1901, et seq., was published in the Louisiana Register on October 20, 2022,
in accordance with the Louisiana Administrative Procedure Act. A Declaration of Emergency
amending LAC 10:I.1901, et seq., was adopted also on October 20, 2022 and was published
in the Louisiana Register on November 20, 2022.

A Notice of Intent to amend LAC 10:1.1901. et seq.,  to initiate the process to  adopt the emergency rule
provisions as a final rule, was published in the  November 20, 2022 Louisiana Register in accordance
with the Louisiana Administrative Procedure Act.  Interested persons may offer public comment
through 5 PM. CST on December 10, 2022, to Susan Rouprich, General Counsel,
Office of Financial Institutions, 8660, United Plaza Blvd. Baton Rouge, La. 70809.
The anticipated effective date of the proposed rule as amended would be upon final publication.

 

Virtual Currency Business Activity Rule Information Archive

During the process of promulgating LAC 10:I.1901 through 1937, the Office of Financial Institutions ("OFI") determined that it was in the best interest of the industry and Louisiana residents wishing to engage in virtual currency to revisit and adjust the rule without unnecessary delay of licensure, registration and engagement in virtual currency business. Amendments submitted by emergency rule seek to ensure uninterrupted access to virtual currency, avoid unintended consequences of affording such access during the pendency of the application process and accommodate a high volume of anticipated applications for licensure and notices of registration. Amendments are further intended to respond to concerns regarding a rapidly-evolving industry and afford requested guidance.

OFI is concurrently proceeding with its Notice of Intent as published in the November 20, 2022 Louisiana Register, to amend the current Rule to reflect the provisions of the emergency rule pursuant to R.S 49: 961(A) and 962(a)(5).

Questions and concerns regarding the emergency rule as adopted, or the proposed notice of intent to amend the existing rule, as published on November 20, 2022, may be directed to General Counsel, Susan Rouprich, at (225) 925-4660 or 8660 United Plaza Boulevard, Second Floor, Baton Rouge, LA 70809.

Click Here to access the Louisiana Register website November 20, 2022 publication of the emergency rule declaration (p. 2722) and the Notice of Intent ( p.2807)

Updated December 19, 2022