Sentences with phrase «require money transmission»
Not exact matches
For example, certain jurisdictions in the United States require a license to offer money transmission services, such as our peer - to - peer payments product, Square Cash, and we maintain a license in each of those jurisdictions.
https://www.sec.gov/
Moreover, many of these businesses could not be used for money laundering because they do not hold customer funds, yet they could still be required to obtain a money transmission license.
The Act aims to spell out which virtual currency activities are money transmission businesses, and what type of license they would require.
In June 2015, Gov. Dannel Malloy signed into law HB 6800 which amends Connecticut's Money Transmission Act by requiring any businesses that transmit virtual currency to obtain a license from the Department of Banking.
According to the Coinbase Legal Team, «the Hawaii Division of Financial Institutions (DFI) has stated that digital currency businesses operating in Hawaii are required to be licensed under the state's Money Transmission Act.