Shipkevich PLLC compiled this web site to convey general information regarding licensing laws for non-bank money transmitters. Our attorneys are poised to assist businesses with registering as transmitters in individual states.
This site provides a state-by-state overview of money transmitter license and bond requirements, as well as general descriptions of what businesses are required to register. Without one institution processes for obtaining money transmitter licenses and money transmission activities, money transmitter administrative and supervisory roles are left to individual states. Multi-jurisdictional laws vary with regard to registration requirements and qualifications, permissible investments, bonding requirements and exemptions.
This database serves as the go-to source for payment instrument issuers, funds transmitters, stored value issuers, Internet funds transmitters and others seeking information on obtaining money transmitter license and information concerning compliance matters on a state-specific basis.
An overview of money transmitter license and registration requirements, general bonding requirements, and who is required to register in each individual state is provided in alphabetical order.
More detailed information concerning permissible investments, exemptions, and possible amendments may be found on individual state’s websites or by contacting the administrators of MoneyTransmitterLaw.com.
Please note that no information presented on this site should be taken as legal advice. Information may or may not account for recent changes or updates in legislation. Although the database seeks to provide accurate information regarding registration and bonding requirements, the content should be viewed as basic guidelines. Before acting or not acting, call our attorneys or other trusted legal representatives to verify the information and holistically analyze your case on an individual basis.
Information is compiled from individual state statutes, which may be accessed as free resources.
About the Editor
165 Broadway Suite 2300
New York, NY 10006
Felix Shipkevich is a principal of Shipkevich PLLC. His practice focuses on payment systems and mobile payments, as well as futures, commodities, and derivatives regulatory, transactional, and enforcement matters. Mr. Shipkevich’s payments practice has brought him into contact with money transmitter registration requirements in all fifty U.S. States. In this capacity, he regularly corresponds with state agencies regarding changes to money transmitter law. His work with money transmitters also includes writing agreements to protect their rights, packaging and ushering through application materials for licensing, and structuring transactions to achieve regulatory efficiency. His practice also includes enforcement defense litigation and regulatory investigations of money service business by federal and state authorities. He has represented money services business as well as technology companies in the money transmitter space in connection with mergers and acquisitions, cross-border purchase and sale negotiations and agreements, and general money service business company arrangements.
Mr. Shipkevich regularly represents some of the largest non-bank foreign exchange dealers and money transmitters. Blockchain-based technologies regulations are his area of expertise and he has spoken at various panels for Cryptocurrency and Capital Markets law. He has spoken at national panels in the money transmitter space and payments industry.
Felix Shipkevich is regularly involved with both national and cross-border financial services regulatory issues including representing clients investigated by regulatory bodies such as the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC). Mr. Shipkevich is also a special professor of law at Hofstra University teaching corporate finance law.
He has also been involved with various regulatory and legal aspects of token sales and FinTech cryptocurrency firms. Mr. Shipkevich is a frequent speaker on the subjects of Bitcoin ATM regulations, defining Bitcoin legality, and how government agencies regulate ICOs Compliance (SEC, IRS, FinCen, DOJ, State Regulators, NYDFS, CFPB).
To read his full profile, click here.