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Can you summarize 6 LARS Chapter 21?
Banks and Banking > VIRTUAL CURRENCY BUSINESSES
Short Summary
The provided legal document, part of the Louisiana Revised Statutes, governs virtual currency businesses in the state. It applies to persons engaged in virtual currency business activity in Louisiana. The document provides definitions for various terms related to virtual currency and outlines the activities that fall under virtual currency business activity. It specifies exemptions to the regulations and does not specify any penalties for non-compliance or violation of its provisions.
Whom does it apply to?
Persons engaged in virtual currency business activity in Louisiana
What does it govern?
Virtual currency businesses
What are exemptions?
The document does not apply to the exchange, transfer, or storage of virtual currency or to virtual currency administration if governed by specific federal or state laws. Additionally, it does not apply to certain entities such as the United States, regulated financial institutions, payment system providers, individuals contributing to decentralized virtual currency, and individuals using virtual currency for personal, academic, or limited escrow services purposes.
What are the Penalties?
The document does not specify any penalties for non-compliance or violation of its provisions.
Jurisdiction
Louisiana