Alaska Updates Money Transmission Law as States Broaden Oversight of Virtual Currency

Alaska has joined a growing wave of states modernizing their money transmission laws to bring virtual currency businesses more squarely within existing financial regulatory frameworks. The state’s new law, Senate Bill 86 , enacted June 30, replaces Alaska’s existing money transmission statutes with a comprehensive modernization framework that expands licensing requirements to virtual currency activities. The legislation comes as states seek to update money transmitter laws originally designed fo