The following activities do not require an individual or business to obtain a money transmitter license under Title 7, Chapter 25, Money Transmitter Act: (1) operating one or more nodes on a blockchain protocol; (2) developing software on a blockchain protocol; or (3) operating a business or decentralized protocol that: (a) effectuates the exchange of one digital asset for another digital asset; and (b) does not exchange digital assets for legal tender or bank deposits.
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