Senate Bill No. [insert number] aims to amend the current regulations surrounding virtual currency businesses in Louisiana. Specifically, the bill repeals Section 2 of Act No. 700 from the 2024 Regular Session, which is part of the Virtual Currency Business Act. This act currently regulates virtual currency businesses and is set to sunset on July 1, 2027. The proposed legislation seeks to eliminate this sunset provision, thereby allowing the regulations to remain in effect indefinitely.

The bill is set to take effect on August 1, 2026, ensuring that the licensing and regulation of virtual currency businesses continue without interruption. By repealing the sunset date, the legislation aims to provide stability and clarity for businesses operating in the virtual currency space, as well as for the Office of Financial Institutions, which oversees these regulations.