Alabama:
- The Alabama Monetary Transmission Act; Ala. Code ยง 8-7A-1 to 8-7A-27 (Eff. Aug. 1, 2017)
Defines monetary value to include virtual currencies, whether or not redeemable in money, and requires persons engaging in the business of monetary transmissions to obtain a state license, with certain exemptions. The statute further licensees must adhere to a prescribed record-keeping process, subject to audit by the Alabama Securities Commission