Massachusetts H4840 requires a license for anyone who transmits money or holds itself out as providing money transmission services, expanding an existing licensing requirement covering only foreign remittance transactions....more
The CFPB adopted a final rule providing for increased oversight of certain companies offering consumer payment products like mobile apps and digital wallets. Continuing to lean into its plans to expand its authority to...more
The Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking this week that seeks to expand its authority to supervise and examine providers of digital wallets and payment applications....more
The California Department of Financial Protection and Innovation (DFPI) may soon have another regulatory regime under its belt—answering the long-open question of digital asset regulation in California....more