Money Transmitter Rules Subchapter F

NOTICE:

Due to the passage of H.B. 289, Money Transmitters Act the Office of the Commissioner of Banks is terminating the agency rule-making for Subchapter 03F Licensure Under the Money Transmitters Act Rules.
Final Agency Decision

Explanation for Proposed Rule:

The Office of the Commissioner of Banks is responsible for drafting regulations related to the operation of virtual currency providers in North Carolina. The North Carolina Money Transmitters Act, N.C. Gen. Stat. § 53-208.1, et seq. is broadly written to encompass entities engaged in the business of transferring virtual currencies in and out of real currency, as well as entities engaged in the business of processing payments between virtual currency wallets. Rules in Subchapter F – Licensees Under the Money Transmitters Act need to be amended in order to clarify requirements for entities involved in virtual currency under the Act.

Analysis of Money Transmitter Rules

Notice of Text

Proposed Rules:

All public comments will be posted below.