Statement on regulation of cryptocurrency in Nevada

Bitcoin Research — Law, Regulation, Markets & Origins (2026)

States

Nv

2019-08-19

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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.

STATE OF NEVADA

    STEVE SISOLAK                                                                                  MICHAEL BROWN
       Governor                           DEPARTMENT OF BUSINESS AND INDUSTRY                          Director

                                          FINANCIAL INSTITUTIONS DIVISION                       RICKISHA HIGHTOWER
                                                                                                 Interim Commissioner

       Nevada Financial Institutions Division statement on regulation of cryptocurrency in Nevada

The Nevada Financial Institutions Division (NFID) regulates financial institutions within Nevada to maintain
a safe financial industry and to protect consumers and the overall public interest. Over time, the NFID has
monitored the growth and expansion of the blockchain, bitcoin, and virtual currency industries. Recently,
several businesses and interested persons contacted the NFID to determine if a license was required to
operate within the State of Nevada. Based upon the business model presented, a license may have been
required for money transmission under NRS Chapter 671. Thereafter, S.B. 195 was introduced during the
2019 legislative session. During the session, the NFID stayed the issuance of licensure determinations as
S.B. 195 proposed to create a new statutory license program for entities already licensed under NRS
Chapter 671. Continuing to issue licenses under NRS Chapter 671 may have created an undue burden for
licensees if they were then required to transition to a new statutory scheme within a few months or a year
after the session. However, S.B. 195 did not pass, and the NFID has resumed licensing this industry as
money transmitters, when applicable.

It is important to note the NFID issues a licensure determination based upon a review of an entity’s
specific business model in order to determine the relevant Chapter of the Nevada Revised Statutes (NRS)
the entity is regulated under, if any. Generally, an entity engaged in the business of selling or issuing
checks or of receiving for transmission or transmitting money or credits is required to have a license under
NRS 671. However, if an entity proposes to serve as a digital custodian for any form of digital currency,
then the business may be regulated as a trust company under NRS Chapter 669.

Any entity that facilitates the transmission of or holds fiat or digital currency by way of brick-and-mortar,
kiosk, mobile, internet or any other means, should contact the NFID to request a licensure determination.

                   LAS VEGAS                             NORTHERN NEVADA                         CARSON CITY
           Office of the Commissioner                      Examination Office                   Licensing Office
          3300 W. Sahara Ave, Suite 250             1755 East Plumb Lane, Ste 243      1830 E. College Parkway, Suite 100
              Las Vegas, NV 89102                           Reno, NV 89502                   Carson City, NV 89706
      (702) 486-4120 Fax (702) 486-4563           (775) 688-1730 Fax (775) 688-1735   (775) 684-2970 Fax (775) 684-2977
                                                     Web Address: http://fid.nv.gov