Georgia Department of Banking and Finance · GA
Order to Cease and Desist Issued to Polar Tensor US Becomes Final
September 17, 2026
Summary
The Georgia Department of Banking and Finance's Order to Cease and Desist against Polar Tensor US became final on September 17, 2026, for operating an unlicensed virtual currency trading platform in violation of O.C.G.A. § 7-1-681. Mortgage lenders and brokers that offer money transmission, including virtual currency, must hold a Georgia money transmitter license or qualify for an exemption. The order does not otherwise affect traditional mortgage origination or servicing.
AI-generated summary · Sep 21, 2026. Verify with your compliance counsel before acting.
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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: [email protected]
Common questions
- What does "Order to Cease and Desist Issued to Polar Tensor US Becomes Final" cover?
- The Georgia Department of Banking and Finance's Order to Cease and Desist against Polar Tensor US became final on September 17, 2026, for operating an…
- Which agency issued this update?
- This update was issued by Georgia Department of Banking and Finance.
- When was it published?
- It was published on September 17, 2026.
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