Washington Administrative Code
Title 208 - Financial Institutions, Department of (See also Titles 50, 419, and 460)
Chapter 208-690 - Regulation of money services providers
Part B - APPLICATION OF CHAPTER-EXEMPTIONS
Section 208-690-015 - What activities are excluded from the act?

Universal Citation: WA Admin Code 208-690-015

Current through Register Vol. 24-18, September 15, 2024

(1) See also RCW 19.230.020.

(2) The issuance, sale, use, redemption, or exchange of closed-loop prepaid access.

(3) The issuance or sale of open-loop prepaid access when the value is covered by federal deposit insurance immediately upon sale or issue. See the Federal Deposit Insurance Corporation (FDIC) Financial Institution Letter 129-2008 dated November 13, 2008, to determine if the underlying funds are covered by FDIC insurance immediately upon sale or issue.

(4) Storage of virtual currency by a person when the virtual currency is owned by others and the person storing the virtual currency does not have the unilateral ability to transmit the value being stored.

Statutory Authority: RCW 43.320.040, 19.230.310, 2010 c 37. 10-20-123, § 208-690-015, filed 10/5/10, effective 11/5/10.

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