Businesses that deal in virtual currencies, cryptocurrencies, or digital assets need to be aware of the potential regulation and/or license requirements that may apply.

Guidance and Information

Please review the materials and links below that answer many commonly asked questions and provide guidance and statements developed by the Department for businesses operating or that plan to operate in Washington.

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  • The offer or sale of digital assets in initial coin offerings or token sales may be subject to registration requirements under state and federal securities laws.
  • A person who offers or sells digital assets that are securities may be required to be licensed as a broker-dealer, securities salesperson, investment adviser, and/or investment adviser.
  • A person operating kiosks or virtual currency “ATM”s may need to obtain a money transmitter license.
  • A person operating a virtual currency exchange platform may need to obtain a money transmitter license.
  • A person providing virtual currency storage may need to obtain a money transmitter license.
  • A person providing payment processing services for merchant may need to obtain a money transmitter license if they are processing virtual currency.
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For information, please contact the Division of Banks at banks@dfi.wa.gov.

Additional Resources

Additional resources that you may find helpful.