Navigating New Compliance Challenges: The Impact of the Money Transmitter Modernization Act on Payroll Processing - Payments Pros – The Payments Law Podcast
Crypto and Beyond: California DFPI Opinions on Money Transmission and the Money Transmission Act - The Crypto Exchange Podcast
Two states have recently finalized significant updates to their money transmission laws, signaling continued nationwide alignment with the Conference of State Bank Supervisors’ Model Money Transmission Modernization Act...more
On June 26, the Conference of State Bank Supervisors (CSBS) released new guidance regarding the treatment of virtual currency in the calculation of a licensee’s tangible net worth under the Money Transmission Modernization...more
The California Department of Financial Protection and Innovation (DFPI) has released proposed regulations implementing the Digital Financial Assets Law (DFAL), creating a formal licensing regime for businesses engaging in a...more
Recently, the Governor of Massachusetts signed into law H.4840 creating Chapter 169B: The Money Transmission Act. The Act is designed to regulate money transmission especially through payment apps. The bill repeals...more
On January 1, 2025, Massachusetts Gov. Maura Healey approved House Bill No. 4840, which repeals and replaces Massachusetts’ money transmission law with a revised law (MTL Law), which is based in part on the model Money...more
As of August 9, 2024, Illinois joins Maryland, South Dakota, Wisconsin, Kansas, Maine, Vermont, South Carolina, Missouri, and Connecticut as the latest state this year to have enacted legislation or regulations stemming from...more
Typical Virtual Currency Exchanges Do Not Require PA Money Transmitter Licenses - The Pennsylvania Department of Banking and Securities (“DoBS”) just released Guidance declaring that virtual currency, “including Bitcoin,”...more