CoinVoice has recently learned that the Georgia Department of Banking and Finance announced that Virtual Assets LLC's virtual currency platform Crypto Dispensers was issued and finalized a cease and desist order for operating an online virtual currency trading platform in Georgia and engaging in the transmission of funds or "monetary value" (including virtual currencies) without obtaining a local Money Transmitter license or applicable exemption. According to Georgia law O.C.G.A. § 7-1-681 and § 7-1-681(b), any entity transmitting funds or virtual currencies within the United States or abroad must obtain a license or meet exemption conditions in advance; otherwise, it is illegal.
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CoinVoice has recently learned that the Georgia Department of Banking and Finance announced that Virtual Assets LLC's virtual currency platform Crypto Dispensers was issued and finalized a cease and desist order for operating an online virtual currency trading platform in Georgia and engaging in the transmission of funds or "monetary value" (including virtual currencies) without obtaining a local Money Transmitter license or applicable exemption. According to Georgia law O.C.G.A. § 7-1-681 and § 7-1-681(b), any entity transmitting funds or virtual currencies within the United States or abroad must obtain a license or meet exemption conditions in advance; otherwise, it is illegal.