Alaska Is Planning To Regulate Virtual Currencies

In 2023, you have to have a new license to operate cryptocurrencies in Alaska. The government of Alaska has decided to add virtual cryptocurrencies to financial and transmission regulations. As per the reports of 19th December from the law firm Cooley, Alaska has decided to include virtual currencies within the transmission regulations. 

According to the amended local Administrative Code which is adopted, a virtual currency is “a digital representation of value that is used as a medium of exchange, a unit of account, or store of value; and is not money, whether or not denominated in money.”  It will be included in permissible investments and the definition of monetary value.  

The rule will be applicable from January 1, 2023.