5 Del. C. § 2334: Scope [For application of this section, see 85 Del. Laws, c. 338, § 3].

(a) This subchapter does not apply to the exchange, transfer, or storage of virtual currency or to virtual-currency administration to the extent any of the following laws govern the activity:

(1) The Electronic Fund Transfer Act of 1978, 15 U.S.C. §§ 1693 through 1693r, as amended.

(2) The Securities Exchange Act of 1934, 15 U.S.C. §§ 78a through 78oo, as amended.

(3) The Commodities Exchange Act of 1936, 7 U.S.C. §§ 1 through 27f, as amended.

(4) The Delaware Securities Act, Chapter 73 of Title 6.

(b) This subchapter does not apply to the following:

(1) A person that provides only connectivity software, computing power to a decentralized virtual currency network, or a protocol governing the transfer of digital value.

(2) A person that provides only data storage, cybersecurity, or noncustodial security services for a business engaged in virtual-currency activity, and does not otherwise hold or control virtual currency on behalf of another person.

(3) A person that provides virtual currency enterprise solutions solely to other exempt entities, provided the person has no direct relationship with and does not handle the assets of an end-user.

(4) A person using virtual currency, including creating, investing, buying or selling, or obtaining virtual currency as payment for the purchase or sale of goods or services, solely for any of the following purposes:

a. On its own behalf.

b. For personal, family, or household purposes.

c. For academic purposes.

(5) A person whose virtual currency business activity with or on behalf of persons is reasonably expected to be valued, in the aggregate, on an annual basis at $5,000 or less, measured by the U.S. dollar equivalent of virtual currency.

(6) An attorney to the extent of providing escrow services.

(7) A title insurance company to the extent of providing escrow services.

(8) A securities intermediary, as defined under § 8-102 of Title 6, or a commodity intermediary, as defined under § 9-102 of Title 6, that does all of the following:

a. Does not engage in virtual currency business activity with or on behalf of a person in the ordinary course of business, except to maintain securities accounts or commodities accounts.

b. Is regulated as a securities intermediary or commodity intermediary under federal law, the law of this State other than this chapter, or the law of another state.

c. Provides a person with protections that are at least as protective as those established under § 2337 of this title.

(9) A secured creditor under Article 9 of Subtitle I of Title 6 or a creditor with a judicial lien or lien arising by operation of law on collateral that is virtual currency. This exemption is limited to the creditor’s enforcement of the security interest in compliance with Article 9 of Subtitle I of Title 6 or compliance with the law applicable to the lien.

(10) A virtual currency control services vendor.

(11) A person that does not receive compensation from another person for any of the following:

a. Providing virtual currency products or services.

b. Conducting virtual currency business activity.

c. Engaging in testing products or services with the person’s own funds.

(c) The Commissioner may determine that a person or class of persons, given facts particular to the person or class, is exempt from this subchapter. In making this determination, the Commissioner shall consider whether the person or class is covered by requirements imposed under federal law on a money-service business.