Regulatory Alerts2026-09-17
Added
Order to Cease and Desist Issued to Polar Tensor US Becomes Final
An Order to Cease and Desist issued by the Georgia Department of Banking and Finance to Polar Tensor US became final on September 17, 2026. The order addresses Polar Tensor US's operation of an online virtual currency trading platform in Georgia without a valid license or applicable exemption, in violation of O.C.G.A. § 7-1-681. Georgia law prohibits transmitting money or monetary value, including virtual currency, without obtaining a money transmitter license or qualifying for an exemption under O.C.G.A. § 7-1-682.
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Atlanta, Georgia – On September 17, 2026, an Order to Cease and Desist (“Order”) issued by the Georgia Department of Banking and Finance (“Department”) to Polar Tensor US became final.
The Order to Cease and Desist was issued by the Department after it obtained evidence that Polar Tensor US engaged in money transmission by operating an online virtual currency trading platform in Georgia without a valid license or under an applicable exemption in violation of O.C.G.A. § 7-1-681.
Pursuant to O.C.G.A. § 7-1-681(b), Georgia law prohibits any person from transmitting money or monetary value, including virtual currency, within the United States or to locations abroad by any and all means without having first obtained a money transmitter license or pursuant to an exemption from licensure under O.C.G.A. § 7-1-682.
Contact:
Melissa Sneed
Senior Deputy Commissioner
Phone: (770) 986-1646
E-mail: msneed@dbf.state.ga.us
Related Files
- Polar Tensor US Final C&D 9.17.26 (PDF, 189.58 KB)
Source: Georgia Department of Banking and Finance — original document
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