Kentucky enacts virtual currency kiosk operator framework

On April 13, Kentucky enacted SB 189, establishing a comprehensive regulatory framework governing virtual currency kiosk operators. The law requires operators to obtain a license from the state’s Department of Financial Institutions (DFI) before conducting business in the state, though state- and federally-chartered banks, credit unions, and their subsidiaries and affiliates are exempt.... By: Orrick, Herrington & Sutcliffe LLP