Rhode Island made a number of amendments to financial institutions statutes with the passage of Senate Bill 2794 / House Bill 7781 Sub A. Changes include the scope of licensing requirements applicable to retail installment contracts and the permissibility of remote work for MLOs and other employees. The changes were effective upon passage on June […]
Rhode Island
Rhode Island Requires Licensure for Virtual Currency Business Activity
A&B Abstract: Effective January 1, 2020, Rhode Island will regulate virtual currency under its money transmission laws. Background Forty-nine states and the District of Columbia regulate money transmission. Almost all of those jurisdictions have different definitions and exemptions that determine whether their laws apply to certain businesses or activities. The result is a complex, patchwork […]