Section 53B.71 - VIRTUAL CURRENCY BUSINESS ACTIVITY; CONDITIONS PRECEDENT(a) A person may not engage in virtual-currency business activity, or hold itself out as being able to engage in virtual-currency business activity, with or on behalf of another person unless the person is: (1) licensed in Minnesota by the commissioner under section 53B.40; or(2) exempt from licensing under section 53B.29.(b) A person that is licensed to engage in virtual-currency business activity is engaged in the business of money transmission and is subject to the requirements of this chapter.Added by 2023 Minn. Laws, ch. 57,s 3-58, eff. 7/1/2023.