(NBC News) — You have no idea how bad it feels to be a trader in Duluth.
But it’s all you have to do.
That’s because the state of Minnesota has banned all trading on its trading floors and on its Internet-based platforms, including those that trade bitcoin, which is also called a virtual currency.
On Tuesday, Minnesota Gov.
Mark Dayton signed the law banning virtual currency trading, which he said was needed because the country was in a “gold rush” to capitalize on the new technology.
Duluth banned bitcoin trading on April 14, and Minnesota has since banned other digital currencies including ethereum, ripple and other popular digital currencies.
The ban is effective immediately.
Dunn is now asking for the same ban on all trading platforms that trade in digital currencies in order to protect consumers and other trading platforms.
The move by the Minnesota governor and other state leaders is expected to lead to more bans on digital currency trading in the state, which has seen a spike in trading since the start of the year, according to the Minnesota Department of Commerce.
The ban has led to speculation that the state will soon impose similar regulations on its own markets.