The trust charter application process is far more rigorous than that for
obtaining money transmitter licenses or the BitLicense.
In the future, ICOs can be required to
obtain a money transmitter license.
Not exact matches
This legislation could particularly benefit virtual currency start - ups and small businesses as they are currently required to fulfill the requirements to
obtain a full
money transmitter license.
However, it exempts «persons conducting business using transactions conducted in whole or in part in virtual currency» from having to
obtain a state
money transmitter license.
The current Governor, Roy Cooper, signed HB 229 into law July 12, 2017 which defines virtual currency traders as
money transmitters required to
obtain a license and imposes additional insurance requirements on virtual currency
transmitters.
Exchanges such as ShapeShift would not be able to service customers in the state without first
obtaining a Washington State
money transmitter license.
«DFI representatives take the view that we may not offer our platform services to Washington state residents without
obtaining a state
money transmitter license in their state,» the announcement reads.