This bill, introduced by Senator Reese, aims to repeal Section 3 of Act No. 331 from the 2023 Regular Session of the Legislature, which pertains to the regulation and licensure of virtual currency businesses. The repeal is intended to clarify the authority, functions, and duties of the office of financial institutions in Louisiana.

By removing this specific section, the bill seeks to streamline the regulatory framework surrounding virtual currency businesses, potentially impacting how these entities are governed in the state. The bill has been approved and is now enrolled as Act No. 159.