Vermont § 2573 - Conditions precedent to engaging in virtual-currency business activity
Full text of Vermont Vermont Statutes Online § 2573 — Conditions precedent to engaging in virtual-currency business activity, with citation guidance and answers to common questions.
§ 2573. Conditions precedent to engaging in virtual-currency business activity
- (a) A person shall 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 under subchapter 2 of this chapter to engage in virtual-currency business
activity; (2) an authorized delegate of a person licensed under subchapter 2 of this chapter to
engage in virtual-currency business activity if such money services are within the
scope of authority conferred by a written contract between the authorized delegate
and the licensee; (3) exempt pursuant to section 2572 of this subchapter and engages in no licensable activity
outside the scope of such exemption; or (4) exempt pursuant to section 2504 of this chapter and does not engage in money services
outside the scope of such exemption. (b) A person that engages in virtual-currency business activity is engaged in the business
of money transmission. (c) It is prohibited for a person to facilitate the provision of unlicensed virtual-currency
business activity by another person that is required to be licensed under this subchapter,
when the first person or the first person’s authorized agent receives notice from
a regulatory, law enforcement, or similar governmental authority, or knows from its
normal monitoring and compliance systems, or consciously avoids knowing that the unlicensed
person is in violation of this chapter. (d) All provisions of this chapter, and any rule adopted under this chapter, that apply
to a person licensed under subchapter 2 of this chapter to engage in virtual-currency
business activity shall apply equally to any person required to hold a license pursuant
to subsection (a) of this section that does not hold one. Nothing herein shall be
interpreted to permit any such unlicensed person to engage in virtual-currency business
activity or hold itself out as being able to engage in any virtual-currency business
activity without a license. (Added 2023, No. 110 (Adj. Sess.), § 48, eff. July 1, 2024.)
Source: official Vermont text · Last verified 2026-08-27
Frequently Asked Questions About Vermont § 2573
What does Vermont Statutes Online § 2573 cover?
Section 2573 ("Conditions precedent to engaging in virtual-currency business activity") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 2573?
A common citation format is "Vermont Statutes Online § 2573" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 2573 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.