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. Please see the links below for more information about DFI’s regulation of some of these activities.
- 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.
Guidance and Statements
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.
If you need additional information, please contact the Center for FinTech Information at the following email address: FinTechInfo@dfi.wa.gov.
Digital Assets and Securities
Virtual Currency and Money Transmission
- Guidance: Virtual Currency and Money Transmission Laws
- Guidance: Virtual Currency Regulation
- Interim Regulatory Guidance: Virtual Currency Activities
Banking and Digital Assets
DFI's Center for FinTech Information
If you still have questions about whether your proposed business plan is regulated in Washington, please contact DFI's Center for FinTech Information.