Minnesota § 53B.71 VIRTUAL CURRENCY BUSINESS ACTIVITY; CONDITIONS PRECEDENT

Minnesota Statutes

§ 53B.71 — VIRTUAL CURRENCY BUSINESS ACTIVITY; CONDITIONS PRECEDENT

Minnesota § 53B.71

PartBANKING

Ch. 53BMONEY TRANSMITTERS

This text of Minnesota § 53B.71 (VIRTUAL CURRENCY BUSINESS ACTIVITY; CONDITIONS PRECEDENT) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 53B.71 (2026).

Text

(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 section53B.40; or

(2)exempt from licensing under section53B.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.

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(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 section53B.40; or
(2) exempt from licensing under section53B.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.