United States Money Transmitter License

Over fifty percent of the world’s cryptocurrency wealth is found in the United States. While the world’s largest economy offers a sometimes complex and uncompetitive tax structure, the size of the marketplace is difficult to ignore. For such reason, nearly all major cryptocurrency exchanges have taken steps to access the United States’ market. An essential element of any U.S. cryptocurrency operation is a money transmitter license.

Despite the levels of crypto-wealth are high in the United States, the country’s fifty jurisdictions have not yet built a consensus for the regulation of cryptocurrency-related activity. As a result, each state offers a unique money transmitter license which is required to run most fiat-based cryptocurrency exchanges. With the proper structure and banking relationship, operators can limit the number of state-level licenses that must be obtained.

The United States is an ideal jurisdiction for launching a cryptocurrency exchange. Obtaining a state money transmitter license provides the holder with the ability to operate a cryptocurrency exchange, manage hosted cryptocurrency wallets, among other activities. Obtaining the proper combination of state money transmitter licenses is a relatively straightforward process that gives the operator access to the world’s largest market for a small investment.

Advantages of a United States Money Transmitter License

Average daily trading in Bitcoin alone exceeds $20 billion. The streamlined and cost-effective process in obtaining a United States cryptocurrency license can place you in this lucrative market in as little as three months. As worldwide adoption of cryptocurrency increases, cryptocurrency exchanges are estimated to have taken in over $1 billion in profits last year alone. With increasingly complex cryptocurrency regulation in leading economic nations such as the United States and European Union, a U.S. money transmitter license is an essential element of any cryptocurrency-based operation.

United States Money Transmitter License at a Glance

 License Money Transmitter License
 Time to License 3 to 4 Months
 Capital Requirement Varies
 Tax Structure Zero (0%) Percent Tax on Offshore Profits

United States Cryptocurrency License Package

  • Incorporation of Bermuda offshore corporation
  • Arrange for local registered officer and local directors, if required
  • Draft corporate bylaws, minutes and owner share issuances
  • Establishment of corporate bank account suitable for cryptocurrency exchange operations
  • Establishment of merchant service account for accepting credit and debit cards
  • Draft requisite business plan, financial statements and financial projections
  • Draft requisite Anti-Money Laundering & Know-Your-Customer policies
  • Arrange for requisite surety bond
  • Prepare and process application for Bermuda Digital Asset Business License
  • Representation before licensing regulatory authority, banks and liquidity providers

Contact the United States Cryptocurrency License Experts

Trust our over fifty year’s combined experience in creating innovative solutions for our clients. Contact the cryptocurrency
licensing experts at FinLaw to begin the process of obtaining your United States’ Cryptocurrency License today.
Our knowledgeable and skilled professionals are pleased to answer any of your questions.

Call (213) 262-9112 for your free consultation or contact us here.