Alaska DBS - News and Alerts

Alaska Proposes Virtual Currency Money Transmission Regulations

The Alaska Department of Commerce, Community, and Economic Development is proposing changes to its money transmission regulations to include virtual currency. The proposed changes would add virtual currency activity as a covered money transmission activity, require licenses for virtual currency transmitters, and update permissible investments to include virtual currency. Public comments are due by September 30, 2022.

Alaska Advisory on Email Account Scams and Cybercrime Protection

The Alaska Division of Banking and Securities issued an advisory to consumers and businesses regarding email account scams and cybercrime protection. The notice highlights threats to financial accounts, including fraudulent payroll changes and unauthorized wire transfers, and provides resources for protection.

Metals.Com Fraud Enforcement - Investor Claim Deadline

The Alaska Division of Banking and Securities, along with other state regulators and the CFTC, filed a joint civil enforcement action against Metals.Com and associated parties for alleged fraud involving 1,600 investors and over $185 million. A receiver has been appointed to manage claims, with a deadline of April 30, 2021, for defrauded clients to submit their claims.