United States Money Service Business Registration

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.
Despite the levels of crypto-wealth are high in the United States, the country as a whole has not yet built a consensus for the regulation of cryptocurrency-related activity. One certainty has been found at the federal level, through the Financial Crimes Enforcement Network, or “FinCEN.” In 2019, FinCEN promulgated clear compliance guidance for the operators of cryptocurrency-related businesses.
The United States is an ideal jurisdiction for obtaining a virtual currency license. Registering as a Money Service Business provides the holder with the ability to operate a cryptocurrency exchange, manage hosted cryptocurrency wallets, among other activities. The ease of obtaining a license and flexibility the license affords within the United States and elsewhere makes New York a perfect jurisdiction for blockchain-related operations.

Advantages of United States Money Service Business Registration

Average daily trading in Bitcoin alone exceeds $20 billion. The streamlined and cost-effective process in obtaining your money service business registration in the United States 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, Bermuda offers a cost-effective, risk free alternative for starting a licensed cryptocurrency exchange or broker-dealer.

United States Money Service Business Registration at a Glance

License Money Service Business Registration
Time to License 1 to 2 Weeks
Capital Requirement Zero
Tax Structure Zero (0%) Percent Tax on Offshore Profits
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Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type.
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry’s standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type.

United States Money Service Business Registration Package

  • Incorporation of offshore corporation or domestic Wyoming LLC
  • 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 Money Service Business Registration
  • 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 Money Service Business Registration today. Our knowledgeable and skilled professionals are pleased to answer any of your questions.

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