Not exact matches
The proposed legislation would repeal and replace the existing statue concerning permissible investments for
money transmitters, Section 36a - 603 of the Connecticut General
Statutes, «Investments equal to amount of outstanding
money transmissions in this state.
Rather, they added «convertible virtual currency» to existing «
money transmitter»
statutes, including bitcoin exchange as a form of currency trading.
«Any group or individual developer who both (A) sold newly created tokens to buyers (i.e. had an ICO) involving U.S. residents and (B) failed to register with FinCEN as a
money transmitter, and perform the associated compliance KYC / AML obligations, can be charged under a federal felony criminal
statute, 18 U.S.C § 1960, with unlicensed
money transmission.