$47.31 3.02%
LTC · 142w

Alaska leading the way at home!


The State of Alaska has introduced a bill this week defining digital currency, as well as broadening its definition of money transmission to include it. A wide array of business functions would require money transmission licenses, including buying and selling through a third party, transmitting, controlling, and issuing digital currencies.

Also read: Bitfinex Will Not Obtain License to Do Business in Washington State

Introduced by representatives Zach Fansler and Sam Kito III, Alaska State House Bill No. 180 outlines a large number of amendments to the state’s existing money transmission laws which were enforced on July 1, 2008.

Currently, the Alaskan statutes declare that a person wanting to engage in the business of money transmission in any way, including advertising and soliciting for this service, must hold a money transmission license or become an authorized delegate of a person who holds a money transmission license.

Defining ‘Virtual Currency’

Digital currency is not currently defined or included in the state’s existing money transmission statutes. This new bill adds a definition for digital currency including bitcoin but refers to them as ‘virtual currency’. According to the bill, virtual currency “shall be broadly construed to cover digital units of exchange” that:

1. Have a centralized repository, which it defines as “a single third-party administrating authority that controls the system, issues the currency, establishes the rules for the currency’s use, mainta...

Continue on
Recent news
LTC +3.02% · · 8h

Litecoin (LTC) | Binance Research

Litecoin, was created as a Bitcoin fork and is designed to enable instant low-cost payments by reducing the block time and changing the hashing algorithm.
LTC +3.02% · · 8h

@SatoshiLite: CTV (CheckTemplateVerify) is a very cool tech upgrade that can help Bitcoin & Litecoin scale and improve self custody solutions. - For more info on CTV: - Be sure to check out an AMA with author @JeremyRubin this Thursday at 9am PST.

CTV (CheckTemplateVerify) is a very cool tech upgrade that can help Bitcoin & Litecoin scale and improve self custody solutions.For more info on CTV: sure to check out an...