5 Del. C. § 2336: Required disclosures [For application of this section, see 85 Del. Laws, c. 338, § 3].

(a) A licensee engaged in virtual-currency business activity shall provide all disclosures required by subsection (b) of this section and any additional disclosures the Commissioner deems necessary for consumer protection. These disclosures must be made separately from any other information, written in plain language, and presented in a clear and conspicuous manner in a record the person may retain. A licensee may propose alternate disclosure formats for the Commissioner’s approval if more appropriate for their specific digital platform.

(b) Before establishing a relationship with a person, a licensee must disclose, to the extent applicable to the virtual-currency business activity, that the licensee will undertake all of the following with the person:

(1) A schedule of fees and charges the licensee may assess, the manner by which fees and charges will be calculated if they are not set in advance and disclosed, and the timing of the fees and charges.

(2) Whether the product or service is covered by any of the following:

a. A form of insurance or is otherwise guaranteed against loss by an agency of the United States for the following:

1. Up to the full U.S. dollar equivalent of virtual currency purchased from the licensee or for control of virtual currency by the licensee as of the date of the placement or purchase, including the maximum amount provided by insurance under the Federal Deposit Insurance Corporation or otherwise available from the Securities Investor Protection Corporation.

2. If not provided at the full U.S. dollar equivalent of virtual currency purchased from the licensee or for control of virtual currency by the licensee, the maximum amount of coverage for each person expressed in the U.S. dollar equivalent of the virtual currency.

b. Private insurance against theft or loss, including cyber theft or theft by other means.

(3) The irrevocability of a transfer or exchange and any exception to irrevocability.

(4) The terms and conditions governing transfers and exchanges, including the following:

a. Liability for an unauthorized, mistaken, or accidental transfer or exchange.

b. The person’s responsibility to provide notice to the licensee of the transfer or exchange.

c. The basis for any recovery by the person from the licensee.

d. General error-resolution rights applicable to the transfer or exchange.

e. The method for the person to update the person’s contact information with the licensee.

(5) The date or time when the transfer or exchange is made and the person’s account is debited may differ from the date or time when the person initiates the instruction to make the transfer or exchange.

(6) Whether the person has a right to stop a pre-authorized payment or revoke authorization for a transfer and the procedure to initiate a stop-payment order or revoke authorization for a subsequent transfer.

(7) The person’s right to receive a receipt, trade ticket, or other evidence of the transfer or exchange.

(8) The person’s right to at least 30 days’ prior notice of a change in the licensee’s fee schedule, other terms and conditions of operating its virtual-currency business activity with the person and the policies applicable to the person’s account.

(9) That virtual currency is not money.

(c) Except as otherwise provided in subsection (d) of this section, at the conclusion of a virtual currency transaction with or on behalf of a person, a licensee shall provide the person a confirmation in a record that contains all of the following:

(1) The name and contact information of the licensee, including information the person may need to ask a question or file a complaint.

(2) The type, value, date, precise time, and amount of the transaction.

(3) The fee charged for the transaction, including any charge for conversion of virtual currency to money, bank credit, or other virtual currency.

(d) If a licensee discloses that it will provide a daily confirmation in the initial disclosure under subsection (c) of this section, the licensee may elect to provide a single, daily confirmation for all transactions with or on behalf of a person on that day instead of a per-transaction confirmation.