ULC

Acts

Regulation of Virtual-Currency Businesses Act

Description

The Uniform Regulation of Virtual-Currency Businesses Act (URVCBA) provides a statutory framework for the regulation of companies engaging in “virtual-currency business activity”. Virtual-currency business activity means exchanging, transferring, or storing virtual currency; holding electronic precious metals or certificates of electronic precious metals; or exchanging digital representations of value within online games for virtual currency or legal tender. The URVCBA’s unique, three-tiered structure clarifies whether an individual or company engaging in virtual currency business activity is (1) exempt from the act; (2) must register; or (3) must obtain a license. The URVCBA also contains numerous consumer protections.

Staff Contact

Katie Robinson krobinson@uniformlaws.org
Kaitlin D. Wolff kwolff@uniformlaws.org

 

Enactment Status Map

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Legislative Tracking

2017 Introductions & Enactments

No matches at this time.

 

Drafting History

Origin: Completed by the Uniform Law Commission in 2017
Committee/Resources: Regulation of Virtual Currency Businesses Act