§1383. Applicability
A. Except as otherwise provided in Subsection B or C of this Section, the provisions
of this Chapter govern the virtual currency business activity of a person, wherever located,
who engages in or holds itself out as engaging in the activity with, or on behalf of, a resident.
B. This Chapter shall not apply to the exchange, transfer, or storage of virtual
currency or to virtual currency administration to the extent the activity is governed by any
of the following federal or state laws:
(1)The Electronic Fund Transfer Act of 1978.
(2)The Securities Exchange Act of 1934.
(3)The Commodities Exchange Act of 1936.
(4)The Louisiana Securities Law, R.S. 51:701 et seq.
C. This Chapter shall not apply to activity by any of the following:
(1)The United States, a state, polit
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§1383. Applicability
A. Except as otherwise provided in Subsection B or C of this Section, the provisions
of this Chapter govern the virtual currency business activity of a person, wherever located,
who engages in or holds itself out as engaging in the activity with, or on behalf of, a resident.
B. This Chapter shall not apply to the exchange, transfer, or storage of virtual
currency or to virtual currency administration to the extent the activity is governed by any
of the following federal or state laws:
(1) The Electronic Fund Transfer Act of 1978.
(2) The Securities Exchange Act of 1934.
(3) The Commodities Exchange Act of 1936.
(4) The Louisiana Securities Law, R.S. 51:701 et seq.
C. This Chapter shall not apply to activity by any of the following:
(1) The United States, a state, political subdivision of a state, agency, or
instrumentality of federal, state, or local government, or a foreign government or a
subdivision, department, agency, or instrumentality of a foreign government.
(2) A regulated financial institution.
(3) A person whose participation in a payment system is limited to providing
processing, clearing, or performing settlement services solely for transactions between or
among persons that are exempt from the licensing or registration requirements of this
Chapter.
(4) A person engaged in the business of dealing in foreign exchange to the extent the
person's activity meets the definition in 31 CFR 1010.605(f)(1)(iv).
(5) A person who does any of the following:
(a) Contributes only connectivity software or computing power to a decentralized
virtual currency or to a protocol governing transfer of the digital representation of value.
(b) Provides only data storage or security services for a business engaged in virtual
currency business activity and does not otherwise engage in virtual currency business activity
on behalf of another person.
(c) Repealed by Acts 2023, No. 331, §2, eff. June 13, 2023.
(6) A person using virtual currency, including creating, investing, buying or selling,
or obtaining virtual currency as payment for the purchase or sale of goods or services, solely
on the person's own behalf for personal, family, or household purposes or for academic
purposes.
(7) Repealed by Acts 2023, No. 331, §2, eff. June 13, 2023.
(8) An attorney to the extent of providing escrow services to a resident.
(9) A title insurance company to the extent of providing escrow services to a
resident.
(10) A securities intermediary, as defined in R.S. 10:8-102(a), or a commodity
intermediary, as defined in R.S. 10:9-102(a), that does not engage in the ordinary course of
business in virtual currency business activity with, or on behalf of, a resident, in addition to
maintaining securities accounts or commodities accounts and is regulated as a securities
intermediary or commodity intermediary pursuant to federal law, law of this state other than
the provisions of this Chapter, or law of another state, and affords a resident protections
comparable to those provided in R.S. 10:8-501 et seq.
(11) A secured creditor pursuant to R.S. 10:9-101 et seq. or a creditor with a judicial
lien, or lien arising by operation of law, on collateral that is virtual currency, if the virtual
currency business activity of the creditor is limited to enforcement of the security interest in
compliance with R.S. 10:9-101 et seq. or lien in compliance with the law applicable to the
lien.
(12) A virtual currency control services vendor.
(13) A person who does not receive compensation from a resident for providing
virtual currency products or services or for conducting virtual currency business activity, or
that is engaged in testing products or services with the person's own funds.
D. Notwithstanding any provision of this Section or any other law to the contrary,
any person who owns, operates, solicits, markets, advertises, or facilitates a virtual currency
kiosk in this state shall be deemed to be engaged in virtual currency business activity in this
state and shall be subject to the provisions of this Chapter, including but not limited to
licensure pursuant to R.S. 6:1385.
NOTE: The provisions of Acts 2023, No. 331, will terminate on July 1,
2027. See Acts 2024, No. 700.
NOTE: The provisions of Acts 2023, No. 331, have no termination date. See
Acts 2024, No. 159.