Prohibits unlicensed activities of virtual currency businesses

This bill (A 10246) prohibits operating virtual currency businesses (like exchanges or wallet services) without a state license. It directly affects individuals or companies engaging in virtual currency transactions without authorization. Key provisions establish tiered criminal penalties: a class A misdemeanor for basic violations, and escalating felony charges (class E, D, or C) based on transaction value - such as $25,000+ in 30 days triggering a class E felony. The law focuses on financial activity involving virtual currency, not general cryptocurrency use, and sets clear monetary thresholds for penalties.