Regulatory Alerts2026-06-30
Added · Updated
Final Order Denying Petition for Declaratory Statement by Kalbas, Inc.
The Florida Office of Financial Regulation denied Kalbas, Inc.'s petition for a declaratory statement regarding the applicability of money services business regulations to its cryptocurrency exchange operations. The agency determined that the petition improperly sought to challenge pending examination findings rather than seeking advance guidance on contemplated conduct. Consequently, the Office made no determination on the merits of the petitioner's arguments and upheld the denial based on the pendency of the ongoing compliance review.