Wirex USA Inc.; On 2/7/2019, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Wirex USA Inc. The petition seeks a declaratory statement from the Office whether its proposed business ...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

NOTICE IS HEREBY GIVEN that the Florida Office of Financial Regulation has received the petition for declaratory statement from Wirex USA Inc. The petition seeks the agency's opinion as to the applicability of Chapter 560, Florida Statutes, as it applies to the petitioner.

On 2/7/2019, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Wirex USA Inc. The petition seeks a declaratory statement from the Office whether its proposed business model (utilize a third party cryptocurrency custodian who will receive buy/sell/exchange orders from customers on Wirex USA's platform and hold the crypto funds in wallets they, the custodian, maintain. Wirex USA will not take custody of either the crypto or fiat currency in this exchange. Further, the prepaid cards will be issued by a sponsoring bank where the fiat balances on the prepaid card will be held. The only transmission of funds will be the initiation of sending pooled funds from the third-party exchange to the sponsoring bank to load the prepaid card.) falls under the Florida Money Transmitter Statute, Chapter 560, Florida Statutes."

A copy of the Petition for Declaratory Statement may be obtained by contacting: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].

Please refer all comments to: Agency Clerk, Office of Financial Regulation, P.O. Box 8050, Tallahassee, Florida 32314-8050, [phone], [e-mail].