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PDFWAC 208-690-018

How does the department interpret the activities that are excluded in RCW 19.230.020?

The following are excluded:
(1) Pursuant to RCW 19.230.020 (6) and (7):
(a) Activities regulated by the Commodities Futures Trading Commission (CFTC) or exempt from registration with the CFTC;
(b) Clearance or settlement services provided by a person to a board of trade as designated by the CFTC.
(2) Pursuant to RCW 19.230.020(8), activities by persons providing clearance or settlement services under a registration as a clearing agency, or an exemption from that registration granted under the federal securities laws. The exclusion applies only to those activities.
(3) Payment processing by a person meeting the requirements in RCW 19.230.020(9), but not persons engaged in payment processing activities:
(a) Using virtual currencies;
(b) For the marijuana industry; or
(c) Holding consumer funds with no direction from the consumer to pay the funds to a payee.
[Statutory Authority: RCW 43.320.040 and 19.230.310. WSR 18-13-108, ยง 208-690-018, filed 6/19/18, effective 8/1/18.]