Elite & Wise LLC.; On 9/9/2020, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Elite & Wise LLC. The petition seeks a declaratory statement from the Office whether its business model (...

 

DEPARTMENT OF FINANCIAL SERVICES

Finance

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

On 9/9/2020, the Florida Office of Financial Regulation (Consumer Finance) received a Petition for Declaratory Statement from Elite & Wise LLC. The petition seeks a declaratory statement from the Office whether its business model (via Bitcoin ATM will accept USD from customers in exchange for the virtual currency known as Bitcoin, and, vice versa, it will accept Bitcoin from customers in exchange for USD. The funds are immediately available to the customer, and there is no third party involved in the transaction.) 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].