Louisiana Virtual Currency Business Bond
Issued for businesses licensed in Louisiana, backed by A-rated, Treasury-listed sureties where a fixed bond applies.
Overview
Louisiana's Virtual Currency Businesses Act created a license, separate from the state's standard money transmitter license, for businesses engaged in virtual currency business activity involving Louisiana residents. Licensees must post a surety bond that starts at $100,000 and scales upward based on the licensee's prior-year dollar volume of Louisiana virtual currency activity, administered by the Louisiana Office of Financial Institutions.
Who Needs This Bond
- Cryptocurrency exchanges and custodians conducting virtual currency business activity involving Louisiana residents
- Digital wallet and virtual currency payment platforms licensed in Louisiana
- Money transmitters expanding into virtual currency activity in Louisiana
Obligee & Required Amount
Obligee: Louisiana Office of Financial Institutions
Required amount: Starts at $100,000, scaling in $100,000 increments with prior-year Louisiana virtual currency volume, up to $1,000,000 (OFI may require up to $7,000,000 at its discretion).
Worth confirming: The NMLS e-bond filing method for this specific bond hasn't been independently verified against a primary OFI filing checklist. We confirm current filing mechanics directly with OFI.
How Much Does It Cost?
The bond starts at $100,000 at licensing and increases in $100,000 increments based on the licensee's prior-year Louisiana virtual currency activity, up to $1,000,000 for activity over $45 million. The Office of Financial Institutions may require up to $7,000,000 at its discretion for higher-risk licensees, and the bond must remain in place for at least five years after a licensee exits Louisiana virtual currency business.
How This Bond Is Executed
Filing method: NMLS e-bond
Notarization: Not confirmed
This bond is accepted as an NMLS Electronic Surety Bond (ESB). Machaen Insurance Agency files it electronically through the Nationwide Multistate Licensing System.
How to Get Bonded
Apply
Complete a short application with your business and coverage details.
Get Quoted
We shop the market among A-rated carriers for the most competitive terms.
Get Covered
Sign your agreement and receive your bond or policy, often within a few business days.
Stay Compliant
We track renewal dates so your coverage stays active without a lapse.
Frequently Asked Questions
Is this the same bond as Louisiana's money transmitter bond?+
No. Louisiana's Virtual Currency Businesses Act, enacted in 2023, created a separate license and bond specifically for virtual currency activity, distinct from the state's standard money transmitter bond.
How is the bond amount determined?+
It starts at $100,000 and scales with your prior-year dollar volume of Louisiana virtual currency business activity under a statutory table, and the Office of Financial Institutions can require more based on your risk profile.
How long does the bond need to stay in place?+
The bond must remain in effect for at least five years after you stop conducting virtual currency business in Louisiana, to cover claims that surface after you exit.
Is this bond filed through NMLS?+
Louisiana's virtual currency bond is generally filed as an NMLS Electronic Surety Bond, consistent with the state's money transmitter bond, though we confirm the current filing process as part of every application.
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