Sentences with phrase «regulating money transmission»

Not exact matches

«The California Department of Business Oversight has not decided whether to regulate virtual currency transactions, or the businesses that arrange such transactions, under the state's Money Transmission Act.

The decision of Santander Bank to close the bank accounts of bitcoin users is more controversial now because of the clear legality of bitcoin in Europe and the U.S.. Most bitcoin exchanges are well regulated and strictly compliant with both financial and money transmission regulations.

Furthermore, the Chair assumes «U.S. - based cryptocurrency trading platforms have elected to be regulated as money - transmission services,» his written remarks revealed, «these predominantly state - regulated payment services have not been subject to direct oversight by the SEC or the CFTC» as of the present hearing.

At present, US exchanges have generally registered as «money - transmission services,» which are regulated at the state level and do not fall under the direct purview of either the SEC or the Commodity Futures Trading Commission (CFTC).