5 Del. C. § 2335: Conditions precedent to engaging in virtual currency business activity [For application of this section, see 85 Del. Laws, c. 338, § 3].

(a) A person may not engage in virtual-currency business activity, or hold itself out as being able to engage in virtual-currency business activity, with or on behalf of another person unless the person is 1 of the following:

(1) Licensed in this State by the Commissioner pursuant to § 2307 of this title.

(2) Exempt from licensing under § 2305 of this title.

(b) A person that is licensed to engage in virtual currency business activity is engaged in the business of money transmission and is subject to the requirements of this subchapter.