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 208-690-018 - How does the department interpret the activities that are excluded in RCW 19.230.020?
Universal Citation: WA Admin Code 208-690-018
Current through Register Vol. 24-18, September 15, 2024
The following are excluded:
(1) Pursuant to RCW 19.230.020(6) and (7):
(a) Activities regulated by the Commodities
Futures Trading Commission (CFTC) or exempt from registration with the
CFTC;
(b) Clearance or settlement
services provided by a person to a board of trade as designated by the
CFTC.
(2) Pursuant to RCW 19.230.020(8), activities by persons providing clearance or settlement services under a registration as a clearing agency, or an exemption from that registration granted under the federal securities laws. The exclusion applies only to those activities.
(3) Payment processing by a person meeting the requirements in RCW 19.230.020(9), but not persons engaged in payment processing activities:
(a) Using virtual currencies;
(b) For the marijuana industry; or
(c) Holding consumer funds with no direction
from the consumer to pay the funds to a payee.
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