In AS 06.55 and this chapter,

1. (1) "business day" means a day other than Saturday, Sunday, or a state or federal holiday;
2. (2) "department" means the Department of Commerce, Community, and Economic Development;
3. (3) "Form MUI" means the uniform money services license application developed and used by the registry;
4. (4) "monetary value" has the meaning of AS 06.55.990(10) and includes virtual currency;
5. (5) "registry" means the Nationwide Multistate Licensing System and Registry; in this paragraph, "Nationwide Multistate Licensing System and Registry" means a licensing system developed by the Conference of State Bank Supervisors and the American Association of Residential Registry, LLC, or a successor or an affiliated entity, for the licensing and registration of persons in the mortgage and other financial services industries;

6. (6) "virtual currency"

   1. (A) means a digital representation of value that is used as a medium of exchange, unit of account, or store of value; and is not money, whether or not denominated in money;

   2. (B) does not include

      1. (i) a transaction in which a merchant grants, as part of an affinity or rewards program, value that cannot be taken from or exchanged with the merchant, bank credit, or virtual currency; or
      2. (ii) a digital representation of value issued by or on behalf of a publisher and used solely within an online game, game platform, or family of games sold by the same publisher or offered on the same game platform.

(Eff. 7/12/2008, Register 187; am 11/22/2017, Register 224; am 1/1/2023, Register 244)

Authority: AS 06.55.102, AS 06.55.203, AS 06.55.405, AS 06.55.103, AS 06.55.204, AS 06.55.820, AS 06.55.105, AS 06.55.403, AS 06.55.990, AS 06.55.106, AS 06.55.404, AS 44.33.020