PANews reported on January 20 that the Georgia Bureau of Banking and Financial Services (OCGA) recently issued a cease and desist order against Crypto DispensersPANews reported on January 20 that the Georgia Bureau of Banking and Financial Services (OCGA) recently issued a cease and desist order against Crypto Dispensers
Crypto Dispensers has been ordered to cease operations by the state of Georgia for operating a virtual currency remittance business without a license.
PANews reported on January 20 that the Georgia Bureau of Banking and Financial Services (OCGA) recently issued a cease and desist order against Crypto Dispensers, a virtual currency platform owned by Virtual Assets LLC, for operating an online virtual currency trading platform and engaging in the transfer of funds or "monetary value" (including virtual currencies) in Georgia without obtaining a local Money Transmitter license or applicable exemption. According to Georgia law OCGA § 7-1-681 and § 7-1-681(b), any entity transferring funds or virtual currencies within the United States or abroad must obtain a license or meet an exemption requirement beforehand; otherwise, it is illegal.
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