Regulatory Licensing

Depending on the business model, funds flow, and jurisdiction, certain activities such as money transmission, a money service business may be required to obtain and secure a license in most U.S. states.   We can manage the application process as a new applicant; obtain surety bonds, or communicating with state licensing agencies. Our services include:

  • U.S. State Licensing: Execute U.S. state money transmitter licensing applications directly with the state licensing department
  • Surety Bonds: Compliance review in preparation for submitting surety bond applications with our partner in furtherance of state money transmitter licenses
  • Business Plan Review: Review business plan to ensure it incorporates all components, forecasts, risks, and operational compliance

Contact us for more information.

Engagement Profiles:

MSB Licensing Strategy and Surety Bond Execution for Bitcoin Startup

Situation and Background: A prominent VC-backed bitcoin startup sought assistance with U.S. licensing strategy and securing surety bonds

Key Issues:

  • Firm needed trusted advice on cost effective method to apply for state licenses and obtain surety bonds.

Services:

  • Provided U.S. licensing strategy to CCO and legal counsel for execution.
  • Referred surety bond company to evaluate client.
  • Comprehensive risk assessment and AML/BSA/OFAC program development recognized as best in class by insurer and surety bond secured.